Not really.
But it does happen to be the first county on the new Countrywide list of declining markets that is in the least danger of declining. They have ranked all the counties in the US on a scale of 1 to 5. 1 is good, 5 is bad.
Here’s the 22 page .PDF list: LINK
HINT: using CTRL and F will bring up a quick search to easily sort through the long list.
My county is a 4. That’s because I have some really high foreclosure activity in the outer reaches dragging us down. C’mon Antioch, Brentwood, Richmond, and Oakley!
Because I am a 4, (does being labeled a 4 make me less of a man?)
Conforming, Non-Conforming, Expanded Approval (EA), and Conventional Bond loans:
Soft Market Category 4-5 loans
Maximum financing will be reduced by 5%
Example: Maximum financing per Countrywide’s Loan Program Guide allows for 95% LTV. Loans in Category 4-5 will be limited to a new max LTV of 90%.
This supersedes anything that the previously mentioned Fannie Declining Market set forth.
And if I wanted to add a Home Equity Loan…
Soft Market Category 4 loans
Maximum financing will be reduced by 5%, unless the loan is already 5% below the maximum allowable financing
But there’s also exclusions to the rule:
Products / Programs Not Impacted
FHA / VA
Rural Housing
Bond programs using government or Rural Housing loan programs
Reverse Mortgages
I am proud to be right smack in the middle of a bunch of 5s. Actually, this area is probably closer to 10 on the scale.
Looks like the county I live in and the neighboring county where I do much of my business (Kansas City area) are solid 2’s.
As I suspected…
I’m lucky because my work is totally portable: Internet and writing. Otherwise, I’m not sure what kind of job opportunities there would be for someone like me.
The big challenge will be finding reliable, regular childcare for our 2-year-old. I need to be able to work at least 6 hours a day straight. Maybe we’ll go back to having someone come to our home to play with her and care for her while I’m working. That worked out for her first year. I’m just sorry to have to take her out of her current daycare because she really thrives there and has made friends.