Southold NY – Market Report Oct-2011
October 19, 2011 by Albert Gabberty
Filed under Uncategorized
Recently completed market report for Southold NY is available by clicking on the link below.
East Quogue NY
October 5, 2011 by Albert Gabberty
Filed under Uncategorized
Today we take a look at the East Quogue housing market located on the south shore of Long Island.
Woodbury Market Report Oct-2011
October 4, 2011 by Albert Gabberty
Filed under Uncategorized
Today we take a look at the Woodbury market place….click on the link below for more information.
Conforming Loan Limit to Drop
October 3, 2011 by Albert Gabberty
Filed under Uncategorized
Extract – HousingWire.com
“To support a crippled mortgage-finance market in 2008, Congress increased the conforming loan limit for Fannie Mae, Freddie Mac, and Federal Housing Administration loans to a local cap of 125% of median home prices along with the overall ceiling of $729,000 in the most expensive neighborhoods.
On Oct. 1, those limits dropped to 115% of local medians despite a major push from the industry and several lawmakers in the Senate and the House of Representatives.”
In Nassau County alone, there are 18 zip codes that have a median sales price greater than $725,000 which could be affected by this change in policy. As a result, loans made at this new level will not be eligible for Fannie Mae/Freddie Mac financing and will need to be held by the secondary market which includes portfolio lenders.