Despite weeks of feuding between the Republicans and Democrats, did anyone really believe that the stalemate would force the Federal government to shut down?
Surely, after avoiding this fate twice during recent budget negotiations, the powers that be would once again thrash out a deal to keep the wolf from America’s door? You would have thought so, but tension between the nation’s two political parties has intensified to the point where they were prepared to force the first government shutdown in more than 17 years this week.
As a result of this, several markets and industries are bracing themselves for the potential impact. Take the real estate market, which may see a decline in the number of property sales as its recent growth shudders to a halt.
Planning your Real Estate Move: Preparing for Every Eventuality
The good news is that the Federal Housing Authority (FHA) will retain the authority to endorse single family loans, while also approving new applications from potential buyers. While the organization will be operating with limited staff, there will still be ample opportunity for individuals who are looking to buy or sell property before the market reaches saturation point. So long as the shutdown remains brief, there is every chance that the market will consolidate and maintain its steady performance.
Given the parlous nature of the American economy, however, it may be worth planning your relocation in careful detail if you are to avoid disappointment and financial loss. Widespread uncertainty, diminished funding and long term austerity may hinder any potential move, so you will need to have a viable contingency plan in place. For example: –
Consider Affordable and Flexible Storage Space: While self-storage is a well known concept, recent innovation has seen the creation of mobile units that offer greater flexibility to users. This may prove crucial if you are looking to sell or buy property in the current market, especially if you are part of a real estate chain that relies on each party being able to achieve their goals. In instances where your purchase falls through after you have already sold your home, for example, you may need to invest in temporary accommodation and place a selection of your material goods into storage for an indefinite period of time.
Identify Reputable Conveyancing Firms: Conveyancing refers to the transfer of real estate deeds and titles, and it remains the single most important component of any move. It is therefore crucial that you partner with a reputable firm that has strong links with lenders, as this will ensure that the transaction goes smoothly and without issues. Without this type of professional guidance and knowledge, you are leaving yourself open to external factors and the machinations of independent solicitors and lending firms.
Target Local Realtors with Strong Regional Knowledge: Given the challenges involved with purchasing property in the existing market, it is important that you select a suitable home in a well researched location. The area in which your property is based will have a considerable impact on your future, especially in relation to the quality of local amenities and any potential ROI (return on investment) that it is likely to deliver. You should therefore consider employing the services of specialist realtors such as http://www.avenuerealtygroup.com, who focus on 2 specific regions within the U.S. and therefore boast outstanding local knowledge.