Fannie & Freddie Eliminated Limited Reviews: What It Means for Condo Buyers & Sellers

The condo market just got a massive plot twist 🏢🚨 As of August 3rd, Fannie Mae and Freddie Mac eliminated "Limited Reviews". Translation? NO MORE FAST-TRACKING CONDO LOANS. Lenders now have to do a Full Review on every condo transaction—scrutinizing HOA reserves, building safety, insurance, and budget stability. Here's why this matters in Orange County right now: ➡️ OC Condos are taking 114 days to sell on average (vs. 93 days for detached homes). ➡️ Condo inventory is UP 17% while demand is down. ➡️ HOA dues + interest rates = serious buyer caution. If you're selling: Price smart and get your HOA paperwork ready before listing. If you're buying: Always inspect the HOA's balance sheet before making an offer! Need help navigating the local OC market? Reach out today! Meghan Shigo, Realtor Century 21 Affiliated DRE 01243803 #meghanshigo #meghanshomes #realestate #realtor #housingmarket #homebuying #homeselling #condo #townhome #fanniemae #freddiemac #lending #orangecounty