$7100 Conforming Loan Increase of $417K to $424,100 Not Enough to Help

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Real Estate Agent with Get Results Team...Just Call (408) 252-8900! CalBRE# 00901962 Lic.1985
http://activerain.com/droplet/4XH9

1474 Sharon Manor Ct.$7100 Conforming Loan Increase of $417K to $424,100 Not Enough to Help

by San Jose REALTOR Michelle Carr Crowe

Hailed as good news for 2017, conforming loan limits are set to increase by $7100, from $417,000 to $424,100.  

In Silicon Valley aka Santa Clara County, that is not enough to help. In facts it's less than a two percent increase.

At twenty percent down, it means a potential purchase price only increases from $521,250 to $530,000.

While any increase is a move in the right direction, this $7100 conforming loan limit increase just isn't enough to help my clients.

Thanks for reading "$7100 Conforming Loan Increase of $417K to $424,100 Not Enough to Help".

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Aloha & God bless you,

Michelle

Michelle Carr Crowe, Cal BRE #00901962
Real Estate Consultant, Coach, Trainer
Keller Williams Cupertino
P: 408-252-8900
F: 408-850-6911
E: GetResultsTeam@gmail.com
19400 Stevens Creek, #200
Cupertino, CA 95014
www.MichelleJudyCarr.com

Michelle C. Carr-Crowe, Cal BRE #00901962, and the Get Results Team (established by the late Silicon Valley super agent Judy Carr) are known as the "Lynbrook and Cupertino Schools Experts." Coaching clients to success is Michelle's passion, making her a creative catalyst for positive change in people's lives. She is a Silicon Valley-based multi-million dollar real estate consultant, coach and trainer who works by referral only.

Her designations include: Accredited Buyers Representative (ABR), Accredited Consultant of Real Estate (ACRE), Accredited Luxury Home Specialist (ALHS), Accredited Staging Professional (ASP), Certified Distressed Property Expert (CDPE),  Property Marketing Expert (PME), Real Estate CyberSpace Specialist (RECS), and Senior Real Estate Specialist (SRES). Michelle is in the process of obtaining her Global Property Specialist and Certified International Property Specialist designations. In addition, she is an internationally-published freelance writer with over 1,000 traditional articles in print and online, as well as over 65,000 blog posts on Blogger, ActiveRain, Examiner, FaceBook, Realtor, Trulia, RealBird and others. She enjoys reading, traveling, animals, nature, family, dancing, staging, consulting, coaching and praying. Check out her blog at www.activerain.com/results or visit her online at www.michellejudycarr.com or www.lynbrookhighhomes.com. For RE$ult$ ... Just Call ... (408) 252-8900.

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7100 conforming loan increase of 417k to 424
100 not enough to help

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Rainmaker
3,233,604
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Michelle

With the strenght of the real estate market over the last several years. The addition of $7100 to the conforming mortgage is not enough to keep pace with the price increases in the real estate market.

Good luck and success.

Lou Ludwig

Nov 26, 2016 07:27 PM #1
Ambassador
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Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900
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Lou, I agree with you. I'm happy to see an increase, but I'd like it to actually help a significant number of people.

Nov 26, 2016 07:42 PM #2
Rainmaker
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Mark Don McInnes, Sandpoint
Sandpoint, ID
North Idaho Real Estate - 208-255.6227

Sometimes a move like this seems more for show than any real help.  Possibly it will help move things in a better direction in the future.  Mark

Nov 26, 2016 08:48 PM #3
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Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900
Get Results Team...Just Call (408) 252-8900! - San Jose, CA
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Mark, I think you are right-it's for show.

Nov 27, 2016 01:00 PM #4
Rainmaker
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Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900 - Good news for home buyers!  A higher limit provides more opportunities! 

Nov 28, 2016 05:22 PM #5
Rainmaker
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Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

That's a pretty small change in price, but maybe just that little amount will be what it takes for somebody!  A bigger spread would have been much more helpful.

Nov 28, 2016 06:24 PM #6
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

That's not enough of an increase to help overcome the increase in property values we are seeing in some areas. 

Nov 29, 2016 08:14 PM #7
Rainmaker
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

I was amazed that our high priced market did not get the increase like some other high priced markets...was wondering why they left California out?? Endre

Nov 29, 2016 11:11 PM #8
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