Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Arizona Identified as a Declining Market: 5% More Down Payment Required
Attention Realtors and Home-buyers in Arizona:  We are in a market identified by Fannie Mae and Freddie Mac to be a moderate declining market. 
This is not the first time I wrote about this issue:Arizona Identified as a Declining Market: Appraisal Reviews Required, but because I am having more people contact me about this lately, I thought I would elaborate further.  Also, I found some other interesting blog posts who covered this exact topic and thought I would share their viewpoint. Declining Market Values " Oh My, Oh My"! Effective Today Fannie Mae's Declining Markets Reinstated Guideline Takes Effect Declining Market Values-a lenders viewpointThe new rules are as follows: If a property is identified by the investor (Fannie Mae/Freddie Mac) through the approval process that it is in a declining area (usually by zip code) the loan will be reduced from its maximum loan amount by 5%.  This 5% test also needs to be met by an appraisal.  So if the property is NOT identified upfront by the investor, but the appraisal indicates the property is in a declining area, then it also gets reduced from its maximum loan amount by 5%. 
For example:  A contract is written for $200,000.00 and you are ... more

__________________________________________________
Are you on The Rain? Grow Your Network!