Many Homebuyers Need Higher Loan Limits
The drop in mortgage loan limits for conventional financing at the end of 2008 is hurting home sales and trade-up activity in higher price ranges across the country, according to the National Association of REALTORS®. The latest existing-home sales data shows sales of homes priced at $750,000 or more have declined a staggering 47 percent.
http://www.realtor.org/press_room/news_releases/2009/
01/many_homebuyers_need_higher_loan_limits?lid=ronav0022
Homebuyer Tax Credit Could Offset Downturn
If all homebuyers become eligible for a tax credit without a repayment feature, it could result in an additional 555,000 home sales – enough to meaningfully draw down excess housing inventory, according to the National Association of REALTORS®.
http://www.realtor.org/press_room/news_releases/2009/01/
effective_implementation_critical_for_homebuyer?lid=ronav0022
Tags: TARP and Beyond