You are currently browsing the Sabino Mountain Blog weblog archives for the day May 17, 2008.
- Uncategorized (69)
- September 5, 2008: Builder's Own Home in The Retreat of Sabino Mountain Under Contract Again
- August 20, 2008: The Inventory of Houses for Sale in Sabino Mountain is Small
- August 8, 2008: Another Sabino Mountain Home is Sold
- August 3, 2008: Remembering Embracing Sabino Mountain for the First Time
- July 25, 2008: Recent Sabino Mountain Luxury Foothills Homes Sales
- July 14, 2008: The Number of Serious Buyers has Picked up at Sabino Mountain
- June 26, 2008: New Sabino Mountain Listing
- June 20, 2008: Summer Treat!
- June 10, 2008: 4134 N Boulder Canyon is Under Contract
- June 7, 2008: One Sabino Mountain Home Under Contract, Another One Falls Through and Goes Back On the Market
Archive for May 17, 2008
Homes Selling for $438,000 or Less Get a Boost!
May 17, 2008 by donna.
Sabino Mountain has had a hard time selling the non-custom homes in the past few years, and prices have seriously declined in homes under $500,000 as a result. Effective June 1st, Fannie Mae and Freddie Mac will lower their downpayment requirements to 5%. Recently the minimum downpayment requirement for those with high credit scores, good employment history, etc, has been 10%. In the past quarter all the homes that have sold in Sabino Mountain have been higher-end custom homes. Last year many owners who had tried to sell their non-custom homes gave up, since even with serious reductions in price, they had no offers. This lower downpayment requirement should give a little boost to a difficult 2008 real estate sales market. If you would like me to refer you to an excellent mortgage consultant, give me a call at 918-2410.
Posted in Uncategorized | No Comments »