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Roberta LaRo…, Real Estate Pro in Las Vegas, NV

Good news for Las Vegas area home buyers.

Asked by Roberta LaRocca, Las Vegas, NV Tue Mar 11, 2008

Not only are home prices and interest rates low, but a few days ago FHA raised their mortgage limits through the end of this year.

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$200 Billion More Available for Home Loans

The Office of Federal Housing Enterprise Oversight annouced today that the reduced capital requirements and removal of portfolio caps for Freddie Mac and Fannie Mae are expected to free up to $200 billion in funds available for home lending, and possibly more though 2008.

The press release in Adobe PDF is here.

http://www.ofheo.gov/media/pdf/LockhartStatement31908.pdf
2 votes Thank Flag Link Wed Mar 19, 2008
Again I hate to answer my own question, but this is something I wanted to pass along.

For Clark Co. NV the FHA limits have been raised to $400,000. Clark Co. NV includes Las Vegas, Henderson, North Las Vegas, Boulder City and surrounding areas up to Mesquite, and to the south Laughlin. There's a Clark Co. NV map here...

http://factfinder.census.gov/servlet/MapItDrawServlet?_bucke…

The limits were also raised for other areas. To search the new loan limits, follow this link.

https://entp.hud.gov/idapp/html/hicostlook.cfm
1 vote Thank Flag Link Tue Mar 11, 2008
Yes, I feel that we are coming into an all around more solid market s we get closer to 2009. Since I believe that we have hit rock bottom with home prices, if not close to it, I think buying is the best investment right now for sure.
0 votes Thank Flag Link Tue Mar 11, 2008
Other good news: Week after week since the beginning of the year, less homes coming on the market, more homes going into escrow, home-builder inventory almost at zero, multiple offers on the lowest of priced homes (mostly bank-owned), and several new resorts hiring folks for openings this year. What a great combo!
0 votes Thank Flag Link Tue Mar 11, 2008
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