Buyers of larger, middle-class homes may see loan costs rise this fall if the real estate industry can’t persuade Congress to keep higher dollar limits in place for federally backed mortgages. But experts differ on the impact for Sonoma, Lake and Mendocino counties. In Sonoma County, buyers seeking federally backed mortgages this fall may be limited to $520,950, down from the current level of $662,500. Do you think such a change would have much impact on the local housing market?
March home sales reached their highest level in Sonoma County in five years, but the median price continued to slide and is back near its lowest point since the housing market crashed almost four years ago. Buyers purchased 399 single-family homes last month, an increase of more than 90 homes [...]