Chat about Macomb County MI real estate & Homes for sale search site

Macomb County MI Real estate

Macomb County MI real estate blog

FHA & buying a condo – excellent article that helps to explain the difficulty in the changes

October 11th, 2010 · 1 Comment · Condos in Macomb County MI, fha mortgages and first time home buyers

For almost a year now I’ve been talking about and following the changes within HUD and FHA for buyers who wish to purchase a condo.  When the guidelines first came out I read through them and wondered “How can we best help our buyer clients get through this?” The answer has been and will remain:  With diligence and hard work.

As of this morning Mirealsource™ is reporting that there are 1097 condos for sale in Macomb County. I highly suspect that only a small percentage of these condos would pass HUD/FHA muster in regards to their new guidelines.

Frankly, I’m disgusted by it all.  Yes, I understand that changes has to be made to insure that FHA remains viable, but what has happened in my opinion is akin to throwing the baby out with the bathwater.

Condo sellers are suffering.  Condo buyers are frustrated and angry.   This excellent article in todays Detroit News explains the changes and the troublesome affects in nice detail.  Please read it if you are considering purchasing a condo in Macomb County, as well as emailing me if you have any questions about what has been taking place in the condo market.

~Kris Wales~  Ask me about buyers agency in Macomb County MI
Search Macomb County MI homes for sale

Tags: ·

1 response so far ↓

Leave a Comment

Important copyright information: All photos were taken by Kris Wales. Do not copy and use photos for your own use, whether it be for personal or commercial purpose. All articles were written by Kris Wales. Once again, do not copy and use for your own purposes. Important disclaimer: Views expressed on the blog by the author and commenters do not express the views of Keller Williams Realty. All information contained is deemed to be reliable at the time of posting but not guaranteed.