Wednesday, March 26, 2008

Tuesday, March 25, 2008

Tuesday, March 18, 2008

Frisco, Colorado Main Street 2007 Market Update

Frisco Main Street 2007 Market Update

Frisco North Side Main Street Properties
Frisco Market Place, Unit 201
$649,000
2 bed
1500 sq.ft.

Mt Victoria Lodge, A
$594,500
2 bed
1651 sq.ft.

Mt Victoria Lodge, B
$674,900
3 bed
1869 sq.ft.

Mt Victoria Lodge, C
$560,000
3 bed
1747 sq.ft.

Mt Victoria Lodge, C
$645,000
3 bed
1864 sq.ft.

Mt Victoria Lodge, E
$581,300
2 bed
1489 sq.ft.

Mt Victoria Lodge, G
$585,700
2 bed
1596 sq.ft.

Mt Victoria Lodge, H
$695,000
2 bed
1572 sq.ft.

Mt Victoria Lodge, I
$678,000
3 bed
1527 sq.ft.

Mt Victoria Lodge, J
$696,200
2 bed
1833 sq.ft.

Olde Main Street Condo, Unit 7
$950,000
3 bed
2238 sq.ft.

Olde Main Street Condo, Unit 8
$363,000
1 bed
772 sq.ft.

Woodbridge Inn, #303
$316,000
2bed
940 sq.ft.

Frisco South Side Main Street Properties
Creek Court Condo, Unit A
$414,000
3 bed
1370 sq.ft.

Creek Court Condo, Unit B
$491,000
2 bed
1175 sq.ft.

Frisco Main St Commons Unit 305
$475,000
2 bed
1191 sq.ft.

Frisco Main St Commons Unit 306
$585,000
2 bed
1364 sq.ft.

Lodge At Riverbend Condo, 109
$489,500
2 bed
1053 sq.ft.

Marina Park Condo, Unit 13
$630,400
2 bed
1537 sq.ft.

River Glen Condo, Unit 204
$490,000
1 bed
1020 sq.ft.

River Glen Condo, Unit 201
$649,900
2 bed
1334 sq.ft.

Sun Gate Condo, Unit 4
$345,000
2 bed
823 sq.ft.

Ten Mile Island Condo, Unit 312
$353,500
2 bed
767 sq.ft.

Ten Mile Island Condo, Unit 208
$359,500
2 bed
764 sq.ft.

Ten Mile Island Condo, Unit 117
$475,000
4 bed
1372 sq.ft.

Ten Mile Island Condo, Unit 214
$325,000
3 bed
942 sq.ft.

Ten Mile Island Condo, Unit 313
$299,000
3 bed
940 sq.ft.

Friday, March 14, 2008

Summit County FHA and Conforming Loan Limits raised to $729,750

Summit County FHA and Conforming Loan Limits Raised to $729,750

On March 7, 2008 the U.S. Department of Housing and Urban Development raised FHA insured and Conforming loan limits in Summit County to $729,750, from $417,000. This, in theory, means that loans in Summit County, up to $729,750, qualify for conforming interest rates as opposed to “jumbo” mortgage rates.

While the limit amounts are determined, the guidelines to qualify for these loans have not yet been released. The guidelines will determine who, where and perhaps even what types of properties will qualify for these new loan limits. We anticipate the guidelines to be released in the next week or two.

Assuming the guidelines are broad and can apply to all properties in all of Summit County, what does this mean for Summit County real estate owners and potential buyers?

First, buyers purchasing property in Summit County may be able to obtain a loan for up to $729,750, which is $312,000 higher than previously, without having to pay higher jumbo loan rates. With 20% down, a buyer can purchase a property just over $912,000 and be able to secure a Conforming mortgage. We anticipate that this will increase the amount of ready and willing buyers in Summit County.

Second, property owners who currently have a jumbo loan may be able to refinance with a conforming loan, cutting interest rate points and saving on their monthly mortgage payments.

Third, anyone thinking of upgrading to a more expensive property than they currently own may have an opportunity to lock in a lower conforming interest rate than they previously could have.

What’s the catch? 1) We don’t yet know the guideline requirements so some people and some properties may not qualify; 2) This loan limit is only good until December 31, 2008. Look for future updates from Landmark Real Estate Group, LLC when we receive more information on the loan guidelines. If you are looking to take advantage of the higher conforming loan limits in Summit County, please call Landmark Real Estate Group today for a free personalized real estate consultation.

For a table of conforming loan limits across the nation, go to https://entp.hud.gov/idapp/html/hicostlook.cfm.