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Congress Faces Lending Reform and More in Real Estate News

Welcome back to everyone and we hope you had a festive and highly recharging Fourth of July weekend this year! The weather out in our next of the woods kept trying to put a damper on our fun, but I think we emerged with the upper hand. After all – how bad can it really be when you have a canopy, and BBQ grill and friends?

If you’re still on the hunt for the ideal home or second home, the foreclosure market is serving up bargains up to 30% below market value. Lenders are trying to gradually release their foreclosure inventory into the market so they don’t cause inventory flood conditions. If you have something specific you’re looking for, let your broker know and they can keep an eye out as inventory levels fluctuate.

Mortgage reform that’s up for vote in Congress this week could change the way we buy homes. More disclosure, more criteria to meet prior to a loan being made. Predatory lending is hopefully becoming a dinosaur. We’ll be anxious to see what ultimately flies with Congress and what doesn’t. We’ll keep you in the loop.

Have you stopped by our local events calendar? We keep it updates with all that’s going on in our next of the woods. If you have an event you’d like to see added, just give us a call! Have a great week and the staff of San Juan Realty, Inc. will see you back here next Thursday!



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