The president's plan to relieve homeowners is about to take place. My understanding is that the limits for conventional loans will be pushed up in Yavapai County. That is to say... you'll be able to obtain a loan for up to the low 700k range as a normal loan. In the past, anything over 417,000 was a JUMBO loan - requiring more paperwork, effort and additional cost (in the way of higher rates). This effectively pushes the Jumbo rate up to the mid 700's and above. This will help Sedona area homebuyers because our pricing is higher than the national average. This should fuel a rise in refinances and also home purchases in the area. Currently there's a lot of inventory of homes over 800k... but this should convince a few people who are on the fence into buying. Look for inventory to gradually fall...
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This is meant to educate Sedona buyers and sellers so that they can make intelligent decisions. Written in a relaxed style, it's upfront and honest about the Sedona Real Estate Market.
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