Kelli Crocker

2012 VA County Loan Limits

2012 loan limits: The procedure for calculating loan limits for 2012 has changed from 2011. VA’s previous procedure expires December 31, 2011. If Congress passes legislation permitting VA to calculate maximum guaranty as it has in the past, the numbers below could increase slightly; they will NOT decrease. If that occurs, we will post announcements and reissue this loan limit chart.

Loan limits: VA does not impose a maximum amount that an eligible veteran may borrow using a VA-guaranteed loan; however loan limits establish the maximum possible guaranty on a loan. The maximum guaranty amount (available for loans over $144,000) is 25 percent of the 2012 VA Limit shown below. A veteran with full entitlement available may borrow up to the limit shown below and VA will guarantee 25 percent of the loan amount. If a veteran has previously used entitlement that has not been restored, the maximum guaranty amount available to that veteran is reduced accordingly. Lenders should check their own investor requirements regarding guaranty amounts and down payments.

NOTE: For all counties other than those listed below, the 2012 Limit is $417,000.

Please visit http://www.benefits.va.gov/HOMELOANS/loan_limits.asp for exceptions to this limit.

Source: Department of Veterans Affairs: http://www.benefits.va.gov/HOMELOANS/loan_limits.asp

Congress passed a bill to allow the higher loan limits to remain in place for an additional year.

To determine the FHA loan limits in your Georgia County, go to:

https://entp.hud.gov/idapp/html/hicostlook.cfm

The typical loan limits for Georgia are as follows:

Please click on the link above to check specific counties.

Sources: www.entp.hud.gov and http://www.nytimes.com/2011/12/04/realestate/jumbo-loan-limits-changed-again.html 12/5/11

Note: Some reports indicate the extension is for 2 years. According to the FHA Mortgagee Letter, it is a one year extension.

TO LOCK or NOT TO LOCK? THAT IS THE QUESTION.

Rates are holding steady, and as this article from Mortgage News Daily states, the best execution rate is 4% or under. In other words, if you are being offered a rate of 4% or under, it is a good decision to lock as rates are trending now. At 4% or 3.875%, there is more of a chance the rate will go up than it will go down, and if it goes down, it will be 1/8 to 1/4 point at most, and there is much more room for it to rise. However, if rates are at 4.125% or higher, it is fairly good risk to float the rate since the benchmark has been around 4%.

ttp://www.mortgagenewsdaily.com/consumer_rates/237859.aspx

First-Time Home Buyer Tax Credit

Enhanced Tax Credit Provides Outstanding Opportunity for Home Buyers

For details and guidelines on the $8,000 Tax Credit for First Time Home Buyers, visit the following link:

http://www.federalhousingtaxcredit.com/2009/home2.html

Please feel free to contact me to purchase a home! I am an Accredited Buyer's Representative and offer leading realty expertise and uncompromising service!

Want to Buy or Sell a Home?
Call me: 678-677-6877
E-mail me: kc@remax.net
Text me: 678-677-6877
Visit my website: www.KelliCrocker.com

Kelli Crocker, REALTOR, Residential Specialist
Accredited Buyer Representative, e-Pro Certified
Life Member Million Dollar Club,
I-85 North Board of REALTORS
Executive Club, RE/MAX International
Member National and Georgia Association of REALTORS,
Member Real Estate Buyer Agency Council

RE/MAX Towne Square
36 South Public Square- Jefferson, GA 30549
Direct: 678-677-6877
Text: 678-677-6877
E-mail: kc@kellicrocker.com
Web: http://www.KelliCrocker.com
Office: 706-367-4000
Fax: 706-367-1444

(DOM=Days on Market)

ACTIVE LISTINGS

Price Range #Listings DOM

$0 - $9,999	8	78
$10,000 - $19,999	2	133
$20,000 - $29,999	1	133
$30,000 - $39,999	2	246
$40,000 - $49,999	5	126
$90,000 - $99,999	2	10
$100,000 - $119,999	6	117
$120,000 - $159,999	34	225
$160,000 - $199,999	48	147
$200,000 - $249,999	24	280
$250,000 - $299,999	13	378
$300,000 - $349,999	3	563
$350,000 - $399,999	1	212
$400,000 - $449,999	2	476
$450,000 - $499,999	4	382
$500,000 - $599,999	4	274
$600,000 - $699,999	1	772
$700,000 - $799,999	1	233
$800,000 - $899,999	3	279

TOTAL ACTIVE LISTINGS 164

AVERAGE DAYS ON MARKET 223

PENDING LISTINGS

Price Range # Listings DOM

$10,000 - $19,999	1	23
$20,000 - $29,999	1	24
$50,000 - $59,999	1	122
$70,000 - $79,999	1	127
$100,000 - $119,999	4	81
$120,000 - $159,999	3	64
$250,000 - $299,999	1	52

TOTAL PENDING LISTINGS 12

AVERAGE DAYS ON MARKET 72

SOLD LISTINGS

Price Range # Listings DOM

$20,000 - $29,999	1	430
$30,000 - $39,999	1	37
$40,000 - $49,999	1	87
$60,000 - $69,999	3	119
$70,000 - $79,999	1	238
$80,000 - $89,999	3	20
$90,000 - $99,999	5	113
$100,000 - $119,999	6	87
$120,000 - $159,999	53	91
$160,000 - $199,999	34	159
$200,000 - $249,999	13	215
$250,000 - $299,999	7	231
$300,000 - $349,999	3	294
$450,000 - $499,999	1	606
$500,000 - $599,999	1	71

TOTAL SOLD LISTINGS 133

AVERAGE DAYS ON MARKET 139

EXPIRED LISTINGS

Price Range # Listings DOM

$0 - $9,999	4	143
$10,000 - $19,999	2	501
$20,000 - $29,999	2	243
$40,000 - $49,999	1	94
$50,000 - $59,999	5	401
$60,000 - $69,999	2	397
$70,000 - $79,999	2	244
$80,000 - $89,999	3	228
$90,000 - $99,999	6	215
$100,000 - $119,999	6	225
$120,000 - $159,999	48	242
$160,000 - $199,999	93	231
$200,000 - $249,999	53	268
$250,000 - $299,999	17	296
$300,000 - $349,999	11	407
$350,000 - $399,999	4	544
$400,000 - $449,999	3	160
$450,000 - $499,999	3	316
$500,000 - $599,999	4	252
$600,000 - $699,999	2	393
$700,000 - $799,999	2	185
$900,000 - $999,999	1	905
$1,000,000 - And Over	1	368

TOTAL EXPIRED LISTINGS 275

AVERAGE DAYS ON MARKET 264