Time Is Short for Buyers in the Luxury Market
Starting October 1, Fannie Mae and Freddie Mac will cut the size of loans they buy from lenders. What does this mean to you if you are purchasing homes in the luxury market? Loan limits will drop (to $625,000) and it may end up costing buyers more to purchase the home you want, especially if you are already under contract to purchase. The reality is future borrowers may be pushed into the more expensive, hard to get jumbo loans.
Our condo market inventory is shrinking. Many condo buildings (Luxe, Viewpoint, Paramount, Twelve Centennial Park, Terminus, Serano and Gallery) are either completely sold out or nearly sold out. Other projects like Aqua, The Ritz-Carlton, Sovereign, 1010 Midtown and The Atlantic are closing condos at a brisk pace. At Luxe, they only have two units left to sell and both are priced above $700,000.
You can check out the article in USA Today here.
Kevin Grieco
kevin@atlantaskyrise.com
Thank you for visiting my condo blog! I’m thrilled to share my passion for Atlanta’s condo market with you. I prioritize delivering honest and insightful content that reflects my commitment to integrity and transparency. I am dedicated to providing you with comprehensive information, fun stories, beautiful photography and of course, gorgeous properties. While comments are currently turned off, I encourage you to get in touch with me directly. If you have any story ideas, tips to share, or simply want to chat about the market, I’m here to listen and help. Your feedback and suggestions are always welcome, as they help me create content that is both relevant and enjoyable for you. Feel free to reach out anytime. I look forward to connecting with you!
