Blog Layout

Will the Presidential Election Affect the Housing Market?

Sep 05, 2012

Daily Real Estate News | Wednesday, September 05, 2012

The next president of the United States — whether Democratic incumbent Barack Obama or Republican challenger Mitt Romney — could have a big influence over the recovery taking shape in the real estate market, according to political pundits.

“The next president, whoever it turns out to be, is going to have a couple of big housing issues to address,” Barry Zigas, director of housing policy at the Consumer Federation of America, told The Washington Post. For example, “What is the government’s role in housing finance, and will consumers have access to mortgages at affordable rates?”

Neither candidate so far has outlined a specific proposal for the housing market or mortgage lending. However, if re-elected, President Obama is expected to continue adding to his existing programs, such as in foreclosure relief, loan modifications, and by expanding refinancing options for home owners. He is also expected to continue to push for new housing finance rules under the Dodd-Frank Act, The Washington Post reports. If elected, Romney is expected to repeal Dodd-Frank. He also would likely replace it with regulations that would make it easier for the private sector to be a stronger player in the mortgage market, The Washington Post reports.

Housing analysts say that the next president will likely have a big influence over the mortgage market, such as determining how much of the real estate market could continue to be subsidized by the federal government.

“The decision will have a huge influence on the housing market and the price of real estate, both for the lower end of the market that competes with affordable rental housing and the higher end that has lagged, partly because of lower limits for the size of mortgages that can be purchased and resold by Fannie and Freddie,” The Washington Post reports.

Also, the next president will also have to decide whether to ease up lending standards to make it easier for more people to qualify for a loan and the amount of down payment needed to buy a home.

Source: “How the Presidential Election Affects the Real Estate Market,” The Washington Post (Aug. 30, 2012)

Source: Beverly Hills Greater Los Angeles Board of Realtors.

< Older Post Newer Post >

Brittany Sells LA

SOLD: Spacious traditional in the red hot North Hollywood neighborhood

06 May, 2021

5648 Irvine Avenue, North Hollywood, CA 91601 Represented buyer – Sold for $ 1,165,000 – ($14k under asking!) 3 Bedrooms | 3 bathrooms | 2,302 sq.ft. MLS # SR20203879CN

Celebrating 10 Years

06 May, 2021

Wow! 10 years! When I first embarked on this journey I had NO idea I would fall so hard for this career. I couldn’t fathom the places it would take me, the amazingly wonderful people I would meet ♥️ and the opportunities it has afforded me. I never imagined this career would be so rewarding or fulfilling. It’s what keeps me going. What makes me feel alive. My one, true love. Most Realtors change offices many, many times over. I have remained true and loyal to the company which gives back so much. Keller Williams Los Feliz is my family. It’s the place I have made some of my first and best friends. Where I sold my first house where so many memories have been made. I wouldn’t be where I am without the support of this office and the people I’ve met along this incredible journey. I am eternally grateful. I have to send a huge shout out to my amazingly wonderful mom. She never stopped believing in me and encouraging my dreams. Thank you to Gary Reavis for being such an inspiration and ally in my life and career. You helped make this super fun and contributed to so many of my wins! To my amazing mentor when I was a weeee young clueless Realtor, Kenya Reeves-Costa (and for giving me the BrittanySellsLA branding idea). To our new team leader, Brock Worthen for continuing to inspire, cheer, and root for all your agent’s successes. I know I didn’t win an Oscar or a Grammy here, but making it 10 years in a cut throat industry is an accomplishment worthy of thanks and honorable mentions. I didn’t get here on my own. So here’s to the next 10 years. To the highs. To the lows. To the lives I am blessed to change and to all the remarkable people I have yet to meet. Perhaps the biggest thank you of all goes to each and every one of my sweet clients who trusted me over the past 10 years to find them their American Dream! It was a huge honor. Love you all and thank you for your continued referrals. I wouldn’t be here without YOU! Sincerely, Brittany Walter

JUST SOLD! Closed in 17 DAYS: Remodeled Valley Townhome

19 Feb, 2021

8801 Cedros Avenue #25, Panorama City, CA 91402 Represented buyer – SOLD FOR $457,000 2 Bedrooms | 3 bathrooms | 1,476 sq.ft. MLS #SR21019913CN Our first day out in this insanely competitive market my clients fell in love (the wet bar sold them!). We beat out 9 other offers to secure their very first offer, ever on this charming Valley townhome. The kicker, my lender was able to close the deal in 17 days for my clients. 17 days! This place is so light and bright and even has a skylight! The new owners are over the moon.

Sold: Prestigious Del Amo Woods home

27 Jan, 2021

23917 Pasatiempo LN, Harbor City, CA 90710 Represented Buyer 4 Bedroom | 3 bath | 2,354 sq.ft. | 7,056 sq.ft. lot | Sold for $820,000 MLS #DW20244732MR My client had been looking for a home for FOUR years with another agent, but when she contacted me last summer – we got to work! In just a few months we saw upwards of 100 homes until we finally found the one. Even better, I was able to negotiate a $30,000 credit!