Alex Tijerina For NicolePompey.com

 

Jessica Guerin, writing for HousingWire:

“The Federal Housing Administration has finally issued a long-awaited update to its condominium rules, announcing Wednesday that it will now allow individual unit approval and is taking other steps to loosen requirements that make these properties eligible for FHA financing”…

This is potentially a huge win for families looking to own a home, and it couldn’t have come at a better time with condo prices increasing in Southern California. 

According to CoreLogic, condo prices were up again in June 2019. Here is a sample of the Median prices for condos in select Southern California Counties:

Orange County: $510,000 (up 1.2% from June 2018)

Riverside County: $305,000 (up 8.9% from June 2018)

Los Angeles County: $535,000 (up 0.9% from June 2018)

Be sure to read the full article by Jessica Guerin for complete details and links…