Bush Economic Plan Might Not Help Sedona Homeowners
Selling luxury Sedona real estate could remain difficult
When it comes to luxury Sedona real estate, it can be difficult to sell right now. Sedona homeowners may have been hoping that the Bush economic plan would include a housing initiative, but they, along with the National Association of Realtors, were disappointed. The main sticking point was a failure to address the conforming loan limits, reports Inman News:
address housing issues and increasing the conforming loan limits for
these two government-sponsored enterprises," NAR President Dick Gaylord
said in a statement. "The increase in loan limits would not only
improve liquidity in the mortgage marketplace, but also boost home
buyers’ confidence levels, resulting in increased sales and economic
activity."
Conforming loan limits are the highest available limit for the loan to be insured through Federal programs so that it is not considered a jumbo loan. NAR would like that raised from $417,000 to $625,000.
For more on luxury Sedona real estate, mortgage programs and more, contact Claudia Ault by email or by phone: 928-203-1681.
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