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Fannie Mae is Making Some Big Changes - What Do They Mean for You?

There are many great Palm Beach County homes for sale. Click here to perform full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (561) 352-3056 for a FREE home buying or selling consultation to answer any of your real estate questions.

Next month Fannie Mae is making some changes that we feel you should know about. Traditionally, if you make a short sale or a deed in lieu, you have to wait 2 years before you are eligible to qualify for a loan. Next month that waiting period will be stretched to 4 years. If you made a short sale or deed in lieu 2 or more years ago and want to buy a home, now is the time to start searching. You don't want to miss out on the chance to make a move and have to wait another 2 years before applying for a loan, so you need to act now.

In other news, the professional investors from one of the largest hedge funds in Palm Beach County, after buying 1,152 homes over the last two years. have stopped buying. The effect this will have on our market remains to be seen.

If you have any questions about Palm Beach real estate or would like to chat about market conditions in your area, give me a call. I would love to hear from you.