Realtors Appeal for Higher FHA Loan Limits in Garfield County, AT

They hope move will help homebuyers, sellers

GLENWOOD SPRINGS — Area real estate brokers are looking to the local governing boards to support them in an attempt to convince the U.S. Department of Housing and Urban Development to raise the FHA conforming loan limits within Garfield County.The current limit for Garfield County on FHA loans is $425,000. But according to Sarah Thorsteinson, director of Glenwood Springs Association of Realtors Government Affairs, the limit, which is determined according to an area's median home prices, should be around $480,000.“This is a huge issue for home sellers and buyers in Garfield County,” she said. Thorsteinson argues that because of the wide variance of home prices from Carbondale to Parachute, the limit does not accurately reflect the county's housing market, and that homebuyers seeking FHA loans for homes in Garfield County communities within the Roaring Fork Valley are at a disadvantage to upvalley markets.
By John Gardner, Dec. 11, 2009 Aspen Times

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