While condominium associations are not required to meet Fannie Mae and Freddie Mac’s requirements, the consequence will likely be a decrease in property values as the potential pool of purchasers that utilize traditional financing would be eliminated.  Some smaller banks and credit unions will provide non-warrantable loans, which are not sold to Fannie Mae or Freddie Mac if traditional financing cannot be obtained.  However, it remains to be seen whether these lenders will provide loans in condominiums that have significant building conditions. Given that the board of directors already has a responsibility to maintain the common elements in a condominium, it is wise of the board of directors to appropriately plan for repairs and keep good records to

Florida has made the top 2 in Zillow’s list of states with the most valuable housing markets. 

The list ranks the total market value of residential real estate by state. The report cites the record-fast value growth and the record number of newly built homes for increasing the total market value of residential real estate in the U.S. 

No surprise, California topped the list at  $9.52 trillion as of December.

Florida took the No. 2 spot with its housing market valued at $3.63 trillion, up from $3.01 trillion at the end of 2021 and slightly down from last July’s $3.67 trillion. 

Florida was followed by New York at $3.32 trillion, Texas at $3.16 trillion and Washington and New Jersey at $1.63 trillion each. The next five states with the most