Coeur d'Alene, Idaho
Here's some encouraging news - sales of luxury homes above $750,000 have been increasing nationwide. Sales are up by 38.7 percent from a year ago for homes with values between $750,000 to $1 million. For homes over $1 million, sales are up 25.7 percent.
Now that sales of upper end homes are making a comeback, so are jumbo loans. For a while these loans disappeared from the radar screen. Jumbo loans are loans above the $417,000 limit for federal insurance agencies, Fannie Mae and Freddie Mac. Only for the most qualified of borrowers, jumbo loans currently have interest rates that are surprisingly comparable to conventional mortgages.
Read the entire RealtyTimes article on Jumbo Loand here.
Here in Coeur d'Alene, Idaho we are seeing some positive trends in the upper tier of home sales. If you would like more information on a particular price range, I would be happy to compile those statistics for you. If you would like to see every home currently listed for sale above $750,000 in the Coeur d'Alene MLS, just click the link below.
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