Any realtors out there? I just interviewed a realtor and he made a comment about election...

[jillan]

Just putting my house on the market - real estate values have really gone up over the last 6 months where I am - yay!!!!!

This realtor just told me that he is hoping my house will sell before the election, because there will be some changes to Fannie and Freddie -depending on the outcome of the election.

I asked him why, does it matter who wins, he of course did not say more - which was smart on his part - because if he is a republican, I would have shown him the door!


Does anyone know what he was talking about???

[jorno67]

1. Does he know what he was talking about?

That is the real question.

[jillan]

2. Yes - he is a top realtor in my area.

[Kolesar]

3. changes+to+Fannie+and+Freddie

http://www.google.com/search?q=changes+to+Fannie+and+Freddie&sugexp=chrome,mod=7&sourceid=chrome&ie=UTF-8

[jillan]

5. Thank you! I tried google before I posted.... but didn't put in the +.

Going to read now.

[SoCalDem]

4. My friend, the realtor, said that if republicans get in, interest rates will probably rise

and if things stay the way they are, rates should stay low.. fwiw.

[jillan]

9. From what I'm reading - thanks to a link from another DUer, is that there are changes that are

happening now with the way we oversee Fannie and Freddie - and bankers and realtors are happy with these changes.

Hmmm - interesting.

[SoCalDem]

12. My friend thinks just the opposite

Houses are at rock bottom (yet there are still a BUNCH more to go into foreclosure here in Nov)..and if interest rates rise, more people will be "priced out of the market" because house prices cannot rise much with such a backlog to work through..

[pnwmom]

6. A major change if the Rethugs take over:

they want to eliminate the income tax deduction for mortgage interest in order to pay for their tax breaks to billionaires.

House prices will plunge again.

[Uncle Joe]

7. If they eliminate or reduce the mortgage interest deduction, an already weak

real estate market will take it on the chin.

One new change effective now is the requirement of purchasers obtaining a mortgage to sign a form which allows the mortgage company to verify the buyer's stated income via the IRS.

Thanks for the thread, jillan.

[klook]

8. The administration said in Feb. 2011 it plans to "wind down" Fannie Mae and Freddie Mac,

but that's only part of the story:

The Obama Administration delivered a report to Congress that provides a path forward for reforming America’s housing finance market. The Administration’s plan will wind down Fannie Mae and Freddie Mac and shrink the government's current footprint in housing finance on a responsible timeline. The plan also lays out reforms to continue fixing the fundamental flaws in the mortgage market through stronger consumer protection, increased transparency for investors, improved underwriting standards, and other critical measures. Additionally, it will help provide targeted and transparent support to creditworthy but underserved families that want to own their own home, as well as affordable rental options.
More - http://www.treasury.gov/press-center/news/Pages/housing-finance-reform.aspx

Link to report here.

I am not a realtor, just some schmoe with a search engine. So I'm sure there is more recent information....

[cthulu2016]

10. He wants you to price your house lower

out of anxiety that you are under the gun.

[Nye Bevan]

11. Romney has said he would fire Bernanke.

Bernanke is big on keeping interest rates low.

Rates are more likely to rise if Romney wins. I would refinance prior to the election if I was planning to do so.

[progressivebydesign]

14. Bush & Friends jacked the rates, and started the freefall of the market. n/t

[progressivebydesign]

13. take the Realtor talk with a grain of salt. I got out of the biz because of the right wingers.

I signed on to a national franchise office. EVERY meeting, regardless of the subject, was a full on Pres. Obama and our Democratic Governor, bash-fest. I'm sorry to report that the vast majority of people selling real estate, are not terribly arare people. Yes, even friends I have in the biz, are just not street smart or savvy. And you add to that the people who run the offices, people who run the Associations, and the State and National associations, who are EXTREMELY republican, and you can see why you have to do your own research on everything they tell you.

Sadly, they seem to be guided by the wealthiest people at the top of the food chain in the biz, and completely ignorant to the fact that it's the republicans that keep killing the housing market every chance they get. Bush and his pals jacked the interest rates, because they wanted to pretend that the economy was better than it was and citing "inflation" which was ONLY the oil prices (highest ever under Bush august, 2008 btw)

[angstlessk]

15. That's funny, cause I told my boss you want your bookkeepers to be Democrats

and your salesmen to be Republicans..he thought that was hilarious...and when one of his top agents threatened to mutiny...he said he wanted his agents to be Democrats...

P.S. I am his bookkeeper!