How Will New FHA Guidelines Affect The Condo Market?
FHA has made changes to the condominium guidelines, and many REALTORS® are adding up the pluses and minuses. Just how will those people affect the already struggling model?
Betty Jung blogs about the new changes coming for condo projects and FHA approvals.
“There are new changes coming for condo projects and FHA approvals that I’ve written about. Many developers who had projects in various stages of development are now pulling back and won’t be building or continuing with them, others are rethinking future projects.
When the economy is good, condos flood the model for sale, and when there’s a recession, there are too many on the model, and those people don’t sell. This will change when the model picks up and you will see more condos built once again and condo conversions will also take place.„
Only time will tell how the changing economy and the new FHA guidelines will affect the condominium model, but Realtors can continue to be educated and informed of the new guidelines.
Click through now to read Betty Jung․s blog.
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