Posts tagged condo

And possibly the other shoe in the condo (conversion) market

From the Chicago Tribune website : Because of underwriting changes by giant investors Fannie Mae and Freddie Mac , plus new restrictions by private-mortgage insurers, getting a loan on a condo or refinancing one you own could prove tougher than you imagined. … Even in the healthiest real estate markets, United Guaranty will require buyers to put at least a 10 percent down and will reject applications in buildings where more than 30 percent of the owners are investors.

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“Official” Real estate Market report for Charlottesville area

This is my market report for the City of Waynesboro and Augusta County and this is the market report I wrote last Monday focused on the Central Virginia real estate market ; my market report is more focused on the Charlottesville market area – Charlottesville/Albemarle, Fluvanna, Greene and Nelson Counties – while the CAAR report encompasses the entire super-region. … For a graphical representation, check this out – for the first quarter 2008, sales of condos are down – way down – relative to the past few years. condo-sales-in-Charlottesville-market.png I’ll update this post on Monday when the Daily Progress releases their interpretation/report.

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