The economic stimulas package has passed through the house and is heading to the President's desk. More important than rebate checks, we can be seeing a raise in FHA limits. Over the past 7 years, FHA has lost market share because the limits in our market of NYC would be easily surpassed. This raise is long overdue, and while I don't see it causing a rise in home prices, it should help stabilize some housing prices. Couple this with lower rates, and guess what, now is an incredible time to buy, acquire, and invest in real estate - especially in markets like Staten Island where values are at levels unseen in years.
If you would like to discuss how this could benefit you further, contact me at 718 981 3400.
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