Conventional Loan Limits Change after September 30, 2011

Heads up, Conventional Loan Buyers! Fannie Mae has announced that the high balance limit is re-setting for loans originated after September 30, 2011 - that's just 9 months away! My Active Rain friend Deborah Garvin just wrote a terrific post on Fannie Mae High Loan Balance Loan Limits, and it reminded me that Florida residents need the notice that new loan limits will be in effect before the year is over. It had to happen.

Jacksonville FL home values have declined 11.1% in 2010, according to Clear Capital's report on the top 50 MSAs in the country. How can we expect home loan limits to remain the same when values are declining? I predict that this will help more buyers get off the fence and go ahead with that purchase. What are your thoughts?