The Sequester: What will happen to home sales?

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The Sequester:  What will happen to home sales?

 

Many communities will be impacted by the anticipated automatic federal budget cuts.  When thousands of civil service employees go on furlough one day a week, service providers, including real estate professionals, will experience drastic changes in their business volume.

Families with incomes reduced by furloughs will not be buying homes and mortgage loan professionals will have the new challenge of how to qualify government workers and employees of government contractors for mortgage financing.

What impact will The Sequester have on your business?


Brookside Gardens, Spring Display, Imagination IMG_4351

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

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Roy and Dolores Kelley Photographs

Roy Kelley and Associates

 

Roy Kelley, Associate Broker

Realty Group Referrals (Retired from RE/MAX Realty Group)

6 Montgomery Village Ave., Suite 200

Gaithersburg, MD 20879

Main Office:  301-258-7757 (You will not reach me at this number)

Send an email message if you need my phone numbers. I will be happy to recommend a real estate professional if you are moving to the area.

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Rainmaker
1,226,960
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

I'm getting the same # of incoming NEW rental resident inquiries.....I suspect that our local economy will not be impacted because of the LARGE state organizations that we have * like UVa * go HOOS!

Feb 26, 2013 07:50 PM #1
Rainmaker
789,705
Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS
Roy, with the Navy as one of our largest area employers, this does look like it will have a serious impact on our local economy.
Feb 26, 2013 07:52 PM #2
Ambassador
566,489
Rosemary Brooks
BMC Real Estate - 209-910-3706 - Stockton, CA
The Mother & Daughter Realty Team

Not sure if this nationwide or more of a local by local affect.  Everything affects everyone these days.

Feb 26, 2013 07:59 PM #3
Rainmaker
5,220,800
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Some pending real estate transactions may be canceled as the buyers face an automatic income reduction.  

Communities where military bases are the dominant employer may suffer greatly.


Images of Flowers, Brookside Gardens, Imagination IMG_4266

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Feb 26, 2013 08:07 PM #4
Rainmaker
1,728,458
Rob Thomas
Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954 - Bristol, TN
Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro

Roy ...It will be interesting to see how and how long this plays out ...Have a great day in MD!

Feb 26, 2013 08:29 PM #5
Ambassador
3,981,808
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent
Roy, we think it is already impacting our area. Home starts are down and our military buyers are holding back. They don't know if they have a future or not.
Feb 26, 2013 08:48 PM #6
Rainmaker
2,703,332
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Hello Roy,

Sadly, the sequestration is just another political ploy and scare tactic used by Washington.  They will spend $15billion more than last year, there is no crisis - just the games played by both the parties and we are the pawns.

Feb 26, 2013 08:58 PM #7
Rainmaker
666,376
Sharon & Bruce Walter
Keller Williams Realty Lafayette, IN - Lafayette, IN
West Lafayette homes for sale
Roy, we don't really have any defense contractors in our area and no large federal civilian presence either. Are the Executive and Legislative branches of government leading the way by taking a pay, perk, and benefits cut to set the example for the American people?
Feb 26, 2013 09:20 PM #8
Rainer
359,561
Edward Gilmartin
CRE - Boston, MA

It appears that this is all about cutting $44 billion through September....on a $3.6 Trillion budget. If this will affect jobs and  home prices I am afraid this economy is built on marshmallows instead of concrete. It just may be...lots of crony capitalism where companies are dependent on government wasteful spending.

Feb 26, 2013 09:31 PM #9
Rainmaker
621,479
Deborah Byron Leffler BzyBee Real Estate Lady!
Keller Williams Realty Boise - Nampa, ID
it will be interesting..our area is still hopping as of now....will be Interesting won't it?? I think all we can do is wait and see
Feb 27, 2013 01:01 AM #10
Rainmaker
5,220,800
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We are sure that we will feel the economic impact of Sequester in the Maryland suburbs of Washington, DC.


Images of Flowers, Brookside Gardens, Imagination IMG_4271

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Feb 27, 2013 02:04 AM #11
Rainmaker
533,370
Kenneth Cole
Weichert Realtors Appleseed Group, 2043 Richmond Ave. S.I.N.Y. 10314. office phone 718-698-9797, Appleseedhomes.com... - Staten Island, NY
NYS Licensed Real Estate Salesperson

I just lost a good buyer because of this. 

Mar 04, 2013 07:47 PM #12
Rainmaker
5,220,800
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I hope you are enjoying a very productive week. Have a wonderful weekend.

May 07, 2016 12:12 AM #13
Rainmaker
5,220,800
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I try to reciprocate with comments when comments are left on my blog. I hope you have the same habit.

 

Aug 26, 2017 06:50 AM #15
Rainmaker
5,220,800
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

It is sometimes a good idea to revisit old blogs and reblogs. We might even find some good ideas for new posts.

Apr 12, 2018 11:15 AM #17
Rainmaker
5,220,800
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We have a beautiful day in Kentlands. I was out taking some photographs of the blossoms.

Apr 04, 2019 11:35 AM #18
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Rainmaker
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Roy Kelley

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