Coachella Valley Blog

FHA has increased their mortgage limits to $500,000 for Riverside and San Bernardino Counties for single family residences.

 The new limit should allow more borrowers to purchase their primary residences at the more beneficial terms FHA allows.  ONLY 3% down!  Call Karen Stearns 760-413-2694.

Calif. median home price - December 07: $475,460(Source: C.A.R.)
Calif. highest median home price by C.A.R. region December 07: Santa Barbara So. Coast $925,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region December 07: High Desert $244,330 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Third Quarter 07: 24 percent (Source: C.A.R.)
Mortgage rates - week ending 01/31: 30-yr. fixed: 5.68%; Fees/points: 0.4% 15-yr. fixed: 5.17%; Fees/points: 0.4% 1-yr. adjustable: 5.05%; Fees/points: 0.6% (Source: Freddie Mac)

The National Association of Realtors is doing something atypical — directly reaching out to consumers with little-known facts about housing. NAR’s new website – www.housingmarketfacts.com — is designed to give homebuyers and sellers information that illustrates the value of real estate as a long-term investment.