Home Selling

Government Shutdown Affects Real Estate Market

photo credit: rpongsaj

Some mortgage loan application processing could be delayed as a result of IRS and Social Security Administration offices being closed. Fortunately, FHA and VA loans do not require IRS tax returns. Some conventional lenders are allowing processing to proceed with verification being postponed until later in the process, but this decision is being made at the lender level. Social Security number verification could also cause delays.

Fannie Mae and Freddie Mac will continue to operate without interruption. Federal Housing Finance Agency will continute operations. FHA will endorse continue to endorse new single family mortgage loans. However, FHA will not make new multifamily loan commitments. National Flood Insurance Program will not be affected because it is funded by premiums, not tax dollars.

Sellers: Do You Need a Realtor?

Many individuals calculate how much they will have to pay a real estate agent in commission to sell their home and decide to sell their home themselves, becoming part of a category dubbed FSBOs (For Sale By Owner). If you are thinking about selling your home and are considering marketing and processing the transaction yourself, pump the brakes and read this post before you decide.

Finding a buyer of your proerty is just one task for a listing agent, but it isn’t nearly as easy as it seems. A listing agent assist a seller with staging a home for photographs and open houses in order to draw attention to features of the home that buyers will find most attractive. After a listing agent has attracted a buyer to make an offer by placing the listing on the MRIS, placing a yard sign on the property, and hosting an open house on the premises, the listing agent works with the buyer’s agent to make sure the buyers have all disclosures, the home inspector has access to the property, and the title work is done. The listing agent puts a buffer between the seller and the buyer, helping you to evaluate the buyer’s proposal with compromising your market postion.

Many questions and issues can arise from contract to closing, from required repairs to obtain financing to a cloud on the title. Your listing agent has the knowledge, experience, and resources to guide you through the closing process and make sure everything flows smoothly.

Quick Tip For Sellers

Most buyers will present offers with a home inspection contingency. Depending on the results, they may choose to walk away from the deal, ask that the items cited in the report be repairs, or they may agree to split the report costs.


Having a home inspection completed before the home is listed makes the home more attractive to buyers, which means you are likely to get more offers sooner. Show buyers that repairs have been made by having a slideshow of the work or before and after pictures play during open houses.

The market is heating up! With more and more options springing up everyday, let’s make the buyer’s decision easy. Connect with me today and I’ll help to get your home sold!