Recently I posted 2 articles regarding Declining Markets.
Is Your City in a "Declining Market"?
Is Your City in a "Declining Market"? Part 2
One of the most common questions I get asked by Real Estate Agents and clients is:
"How Can I Tell Find Out What Areas Are Considered A Declining Market"?
Minnesota markets have been hit hard, just as many others have across the country. As of February 1st, the Office of Federal Housing Enterprise Oversight came out with a fresh new list and let me tell you...it has grown significantly!
Here is a very user friendly tool to help you with your own neighborhoods and markets in determining if you are also in this labeled group.
LIST OF DECLINING MARKETS
After you click on the above link, hit CTRL "F" on your computer. Type the zip code into the dialogue box that pops up and click on "next". If your zipcode does not appear in the list, that is GOOD NEWS! You are not in a declining market and do not face all of the new mortgage restrictions.
For a refresher on mortgage restrictions in a declining market, please refer to my first post: "Is Your City in a Declining Market".
Minnesota Mortgage Mom
Sherri Sherpy
St Paul, MN
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