Part of the thrill of real estate these days is trying to keep one’s head from falling off due to all the spinning. Everyday changes in the real estate and mortgage industries turn everything upside down.

Today we have the new housing bill which will include these changes:

• The Conforming Loan limit which was temporarily increased from $417K to $729K will be permanently set at $625K. The yo-yo effect for the jumbo loan market continues.
• The elimination of F HA Down Payment Assistance

Relief and assistance for homeowners facing foreclosure for the most part is ineffective – a case of too little for too few and too much red tape.

Here is a link to HUD Approved Counseling Agencies for California

It appears that stabilization in the housing and lending markets is going to take at least another year. The major factors being: continued foreclosure inventory, continued consolidation in the lending industry and inflation.

People will continue to buy and sell real estate through it all, even in Danville, San Ramon and Pleasanton, California.