As we sit in awe of the current mess in Washington, we can't help wonder where our market is heading and how the housing market will be affected overall. If the shutdown continues, we do know that it could take longer for loan approval, and the overall feeling of uncertainty may cause a slowdown in decision making by Buyers and Sellers. Nevertheless, we don't believe that this will affect home values which are up 20% since last year, at least not in the near future.
The government will find a resolution eventually. Once this mess is over, and spring has sprung, decreased pressure will give way to more inventory. From a buyer’s standpoint, it is important to intensify your search now; to line up a good lender who can expedite your loan. More houses will be available in the spring but interest rates and waiting periods will likely increase. From a Seller’s standpoint, waiting until early next year will decrease the value of your home since Buyers will have more choices when inventory jumps 20-30%. Additionally, the holidays are a good time to make your home available because buyers tend to be more motivated and they make quick decisions.
As a buyer or seller in these uncertain times, it is critical to have professional help on your side. The right advice can be the difference in making a good business decision for you and your family.
Contact us at MarinRealEstate.net for further information or to talk to us about listing or buying a home.