The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Homes are truly unique. I look forward to helping you with any of your Charleston SC Homes For Sale needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Charleston SC Homes For Sale : October 2013 National Housing Trends
Actions in Congress on Budget, Flood Insurance Having a Negative Impact on Housing Market
Concerns about a shutdown of the federal government slowed housing activity in September, according to the latest results from the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. Increases to flood insurance premiums due to recent legislation in Congress have also caused problems for buyers and sellers.
The federal government entered a 17-day partial shutdown at the beginning of October due to disagreements in Congress regarding the government’s budget. About 2,000 agents participated in the HousingPulse survey for September, which was
completed during the partial shutdown.
A number of agents said the shutdown had an impact on home sales. “The market here died with all the government shutdown problems,” according to an agent in California. “Everyone seems to be waiting to see what is going to happen before they
make any major decisions.”
The shutdown slowed mortgage processing for all lenders, regardless of mortgage-type, as lenders were unable to verify Social Security numbers or receive tax transcripts from the IRS.
Most lenders were able to process FHA mortgages but the Department of Housing and Urban Development said the shutdown could take two months for it to catch-up on FHA processing activities. And the U.S. Department of Agriculture’s rural
housing program was closed during the shutdown.
Congress agreed to re-open the government in mid-October. But the housingrelated shutdown problems could return as soon as January, the next budget deadline set by Congress. Learn more about the October 2013 National Housing Trends here.
As always, your thoughts, questions, or comments are greatly appreciated.
Let me know if I can help with any of your Charleston SC Homes For Sale needs or questions.
See Charleston SC Real Estate Blog for local attractions and current Charleston events.
Look at Charleston SC Homes For Sale anywhere in the tri-county area.
View my entire inventory of VisualTours of Charleston SC Real Estate homes at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.charlestonscrealestateforsale.com
