The FHA has given the go ahead to raise the limit on FHA backed loans in 14 California Counties. Bay Area counties at the maximum level for FHA loans are Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo and Santa Clara. Other California counties on the list are Orange, Los Angeles, Monterey, San Benito, Santa Barbara, Santa Cruz and Ventura.

This is a huge deal and could begin to re-start the faltering California real estate market. The move up market will be back in reach for many who can afford to make the payments but couldn’t come up with a down payment.  Real estate agents should move fast on behalf of their clients to take advantage of this situation and get them into a home while the opportunity exists.

THIS IS A TEMPORARY RAISE IN THE LIMIT. DON’T SNOOZE, DON’T LOSE!