Will the Election Results Impact Real Estate?

Asked by Bud Zeller, Folsom, CA Fri Nov 5, 2010

Ten of the 12 state attorneys general on the executive committee heading the foreclosure probe lost their re-election bids and won’t be returning to office. Ohio’s Richard Cordray, one of the most outspoken AGs, says the change of watch won’t matter very much.

“The issue is still there. The elections don’t change that. It’s going to need to be addressed, from the industry’s standpoint,” he said. “The 50-state investigation will continue to go forward.”

Source: The Wall Street Journal, Robbie Whelan (11/03/2010)

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Betty Best’s answer
Betty Best, Agent, Springfield, VA
Sat Nov 6, 2010
BEST ANSWER
As a realtor in Northern Virginia, truthfully the elections have little impact in terms of people moving in and out. Our area constantly has shifts of military, contract and government workers - elected officials are hardly noticed and just part of the larger mix.

The bigger question is whether confidence will be restored and buyers come back out, bringing prices up and encouraging more sellers. That's what we've all been waiting to see in Northern Virginia - home sales have slowed and stalled since the expiration of the tax incentive in the Spring. So many clients say they are waiting for that second dip in the economy, worried that it's too soon to buy, or sell.

However, a few days after the election, I've seen no mood change yet here. But what buyers and sellers need to understand is that this is still a fantastic time to move up to a bigger home - you may be selling low but you are buying low too - lots of buying power, but with the added advantage of the incredibly low interest rates to boost your buying range. And a great time to buy an investment property or two to rent out.
- Betty Best, Realtor (Long & Foster) and Property Manager (Key Home Management, LLC)
1 vote
Jim Walker, Agent, Carmichael, CA
Fri Nov 5, 2010
The election results will influence the Virginia and Maryland suburbs of Washington, D.C. as there will be a lot of moving boxes out and in.

You can expect that Republicans will work to protect banks and other corporations, as much as they can. However, the federal DOJ is still run by nominal democrats Eric Holder and Potus B.Obama.

Realtors and our consumer clients can expect more nonstop illegality and bad acts from the banks and their outsourced foreclosure service providers.
1 vote
Maurice Thom…, Agent, Mathers, CA
Tue Nov 9, 2010
Yes there will be a impact. The million dollar question is, "how much of an impact?" It truely depends on the true agenda of the politicians.
0 votes
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