Info That Hits Us Where We Live-Real Housing News, Not So Bad
QUOTE OF THE WEEK… “Do not even listen, only wait.” –Franz Kafka, novelist and short story writer
INFO THAT HITS US WHERE WE LIVE… The early 20th century author of nightmarish tales certainly had the best advice for getting through the scares coming out of Washington last week. Much of the housing “news” consisted of fearful warnings about what might happen to the real estate recovery if the debt limit weren’t raised or the partial government shutdown continued. These nightmares proved not worth listening to, as an agreement came, although we had to wait until the very last minute. We’ll still have to wait for the reports on September Housing Starts and Building Permits, delayed by the government shutdown.
Real housing news, when it appeared, wasn’t so bad. The day things went back to normal, Fannie Mae’s monthly outlook said the shutdown and debt ceiling debates seem to have had a “minimal effect” on housing. They pointed out rising home prices may actually help cushion any negative economic impacts by raising household net worth. People are clearly still buying, as Ellie Mae reported that purchase mortgages made up 58% of the closed loans in September. Here’s a great link to pass on to prospects: To view, click here.
BUSINESS TIP OF THE WEEK… To make the day more productive, prioritize your tasks. Ask yourself first thing: “What single accomplishment will let me sleep better tonight?”
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Orson B.Klender, Associate Broker
Keller Williams Realty Saratoga Springs
38 High Rock Ave, Saratoga Springs, NY 12866
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