The topic of "change" always generates split opinions of whether it is good or bad. Some people really hate change. I have encountered a number of people over my 15+ years in real estate who dislike change so much they would rather stay in a home they don't like or can't afford than to change to something more pleasing.  On the flip-side, I have many clients who love change almost to an addiction and they move every 2 years just to change their scenery.

Well, today, I have both good and bad news about some changes in real estate.  First- great news!  McLain Real Estate has changed to a new, more user-friendly website!  Change is good when it streamlines efficiency!  Our new website allows you to search for homes for sale either with a very detailed search form or an even easier to use Map Search feature.  You can zoom in on a specific area and see everything currently for sale. It's super easy to use and the site is packed with other helpful tools like school reports and current interest rates. Check it out! www.mclainrealestate.com

Now for some not so great news about change in real estate.  Effective October 1, 2011, many high balance loan programs including the High Balance Conforming Loan Program will have their loan limits reduced as announced in the Housing and Economic Recovery Act in 2008. In San Diego County our High Balance Conforming Loan Program loan limit for 1 unit real estate is $697,500.00 today. On October 1st, the limit is set to be reduced to $546,250.00.  We are already experiencing some lenders such as Bank of America already changing their loan limits to the lower amount. Two-four unit residential property loan limits will also be reduced dramatically.  The potential light at the end of this tunnel is that there is pending legislation that will hopefully extend the current loan limits, but don't count on that as strategy when looking for a loan. If you need more information about this change, I'm happy to send you the necessary resources or link you to the proper funding sources for your loan needs.

Until our economy solidly finds its footing and the housing market fully recovers, change will be part of our real estate world.