In Logan/Cache Valley, Real estate sales continue on in spite of Government squabbling & divisiveness. September single family home sales ended 2013 3rd quarter with stellar numbers - 2013 3rd quarter with 367 sales posted a 16% increase over the 3rd quarter of 2012!!
October sales are still fairly strong with 43 sales to date despite the Federal Government partial shutdown and it’s impact on government-backed home loans. Financing of USDA loans (a Government backed 0% down loan geared toward development of rural areas) – already very slow prior to the Oct. 1 shutdown, have ground down to a standstill, and FHA loans (Government backed – 3% down loans) have also been impacted negatively, but conventional financing continues to move along even though IRS verification of previous year taxes, and social security verification has been severely impacted. Lenders are in fact “sticking their necks out” – funding loans of low risk buyers without the verification (to be verified after government goes back to work). We’re still a society of Americans who “figure out a way” to make things happen!