Government Shut Down and Phoenix Real Estate
What the Government Shut Down Means for Real Estate.
By: Amy Gerrish
So far we are seeing 3 things.
- The Federal Housing Administration (FHA) is not processing loans at this time. *Update – we are hearing that the automated FHA system is operational and anything that does not require a human can be processed.
- The Internal Revenue Service (IRS) is not processing tax return requests for underwriting on any loans.
- We will be keeping an eye on inventory, it has been recently on the rise heading towards a buyers market. Depending on the length of the shut down we may see this buyers market bear down more swiftly than anticipated.
If you are currently thinking about buying or selling, please contact me directly to discuss your options. 480-294-8680.