July Market Hovering

As a part of President Obama’s recent financial reform bill, a new bureau will be created called the Consumer Financial Protection Bureau. This new bureau, with a $500 million annual budget, will write new rules and monitor problems and abuses in areas such as residential real estate settlements, credit scores, “truth in lending,” and equal credit opportunity. Of the talking “points” in the reform bill, the only significant item that I can see is the creation of a consumer hot line ….. seems like an awful lot of money for just a hotline.
On the home front, in comparing last month’s numbers with this month’s, we are still hovering around the same mark. We had 10 sales in June and 8 in July. The number of Active listings went down from 47 to 39, which means inventory is getting smaller. That’s a good sign. Another good sign is that as of July 31st, there were 31 homes pending and getting ready to close escrow. For the past year or so, this number has been about 10 to 15 pending sales in escrow. So all in all, the housing market here is still getting a little better each month.
Remember to come by and sign one or both of our Honor Rally t-shirts before August 24th. We are leaving for Washington DC to attend the Glenn Beck Honor Rally at the Lincoln Memorial on the 25th. Our t-shirts are just about covered with signatures from gracious people who support the honor rally on August 28th.
And again, as always, we welcome your comments!

1 Comment

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One response to “July Market Hovering

  1. Johnny Duke

    Wish we could have been there with you guys. Merry Christmas.

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