New Orleans Real Estate by Eric

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New Orleans area FHA limit gets boosted to $287,500, Other markets are shocking!

We tend to live in our own little real estate worlds but are connected by the internet to other locations. I am still amazed how different other areas of the country are. The FHA limits are great going up. I have not done but a couple of FHA loans in the last couple of years but expect to do more in the future. New Orleans has a huge chunk of it housing market flooded by Katrina and lost 40% of its population 2.5 years later. You can still get a house here for under 200k in the suburbs. How can people make a living in the expensive markets and afford housing. You can make $9 per hour working at the Golden Arches so New Orleans is not a cheap place to live.

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3 comments • Eric Bouler • March 06 2008 06:47PM

Comments

Eric no doubt the people of California are paying for the unreal appreciation of the past few years.
Posted by John Walters (Licensed in Slidell, Louisiana) (Slidell, Pearl River, Lacombe) over 2 years ago

Here is the FHA  numbers for Honolulu County

  • Single Family:   $793,750
  • Two Family:      $1,016,150
  • Three Family:   $1,228,300
  • Four Family:     $1,526,450

There is a huge difference according to home prices in each area.

Posted by Randy L. Prothero - Hawaii REALTOR® (Century 21 Liberty Homes) over 2 years ago
Eric - Here's hoping the higher limits will spur some buyers into action. It's a step.
Posted by Tom Plant (WINEormous.com) over 2 years ago

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