You are currently browsing the Sabino Mountain Blog weblog archives for the day May 17, 2008.
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- May 20, 2012: Only 4 Homes for Sale at Sabino Mountain
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- April 16, 2012: Only 3 Homes for Sale in Sabino Mountain
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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.
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