BUSH ADMINISTRATION INCREASES FEDERAL HOUSING ADMINISTRATION (FHA) LOAN LIMITS IN FLAGLER COUNTY

JACKSONVILLE - The U.S. Department of Housing and Urban Development's (HUD) today announced that an
increase in the Federal Housing Administration (FHA) loan limits for Flagler County, which includes the Palm Coast Metropolitan Statistical Area (MSA), has been approved - - the second increase in the 1-unit limit since the August 2005, rise of $31,618.

"President Bush understands that when we open the doors of the American Dream to more families, we all win," said HUD Southeast / Caribbean Regional Director, Bob Young. "Homeownership is at an all-time high nationally.
Ownership inspires civic responsibility, offers children a stable living environment and generates economic benefits
for families and communities."

HUD's Jacksonville Field Office serves the North Florida area and its Director, J. Nicholas Shelley, added that housing affordability is becoming more scarce in Florida saying, "the $13,250 (6.5%) increase in FHA limits for single family mortgages will make it easier for more families in Flagler County to realize the dream of homeownership using our
FHA Programs."

The loan limit increase was considered using data obtained from the Flagler County Property Appraiser's Office. The increase was based on a total of 451 closings in Flagler County from September through November 2005, which had
a median sales price of $230,000; up from the August 2005 median price of $215,000.

In April 2005, the U.S. Census Bureau reported that Flagler County grew by 10.1 percent from July 1, 2003, to
July 1, 2004 - the biggest percentage change in the country. It also stated that Flagler County's July 1, 2003 population of 69,005, was more than double, the 2000 level.

HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities, creating affordable housing opportunities for low-income Americans, supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development as well as
enforces the nation's fair housing laws.

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