First, a little good news for home owners and home buyers in the Verdugo Hills!
H.U.D., the Federal Agency that regulates FHA loans has increase the FHA loan limits for our area from $362,790 to $729,750. This will enable many of the individuals & families who are unable to qualify for “Jumbo Loans” to buy a house. Some estimates say this will help as many as 33,000 California families buy a home – including our areas here in Sunland, Tujunga, Glendale, La Crescenta, La Canada & Shadow Hills. And, as you can see by the sales stats included here, it’s about time!
The sales figures here don’t show the increased activity of buyers shopping and making offers in the market place which is literally occuring as I write this post. Pent up demand has been building since the financial markets went into crisis in August 2007. In future posts I will show how and why more buyers are starting to re-enter the market place.
Sales information is taken from i-Tech MLS, has not been verified, is not guaranteed and is subject to change.