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Fannie Mae Deems Denver a Declining Market

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Dee Dee

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Jan 16, 2002
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Certified Residential Appraiser
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Colorado
http://www.denverpost.com/business/ci_7697211

Metro Denver's designation as a "declining market" could delay any recovery in the area's long-suffering residential real-estate market, local housing experts said Tuesday.

Some mortgage lenders are designating Denver and surrounding counties, excluding Boulder, as a market where prices are declining, upon instruction from Fannie Mae, which backed 41 percent of the nation's home mortgages in the third quarter.
Fannie Mae is requiring a 5-percentage-point larger down payment on loans made in declining markets starting in the middle of next month.
 

Mike Garrett RAA

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Fortunately, Colorado Springs does not appear on that list.
 

TXCBoy36

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Oct 3, 2007
Professional Status
Certified Residential Appraiser
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Colorado
Yeah, that statement was not very wise in my opinion, based on the fact that there are some market areas that have not been very effected by the existance of the recent foreclosures in the metro Denver area.

JC
 
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