Colony Title Group is pleased to announce Cary Moore is joining our company. Cary’s role will be Vice President and responsible for market development. Cary has over twenty years in the title industry handling closings, solving real estate problems and running a national title office. In short, he is a perfect complement to our company, which is an independent title company dedicated to providing professional, responsible service to all our title clients. With the backing of our law firm, Cary will be a tremendous asset to Colony Title and its growth. Join me in welcoming Cary to our family.
These are exciting times, with the government shutdown and the market trying to make a recovery. We will wait to see if the government debacle will stir the real estate market. The most logical assumption is that with government unrest, the Fed may soften interest rates to comfort the public in this time of unrest. Our market has been showing signs of strength. If the Fed believes this shutdown is dampening the recovery, let’s hope they make the appropriate moves to overcome the situation.
For those of you currently in process to buy or sell a home, the government shutdown may impact your settlement date, as the IRS will have trouble processing requests for income tax verifications. As many of you know, it is customary when applying for a loan that a 4506 form is signed and sent in to verify what income you have reported. With the shutdown, those requests might not get processed. Sit tight, ultimately they will be done, but are probably not on the priority list.
We still believe that pricing of properties is good and rates remain in the low to mid 4 percent range for fixed. Given the inventory and the rates the fall market should be a bonanza for buyers.
Owners who have VA or FHA loans on their properties are in enviable position, especially if their rates are at 4.25% or below. If you need to sell now, for any reason, put your home on the market NOW and advertise that you have assumable financing. Given the fact that rates currently are in the mid 4’s your home is more saleable than any other home on the block not financed by FHA or VA.
If the shutdown proceeds for any length of time, it may put pressure on homeowners who currently can pay their mortgage, but will be squeezed. I wrote last spring about shared equity agreements for families needing assistance. If you are in such a situation, feel free to call me.
We want to be your title company and real estate law firm. I can be reached at 410 884 1160 ext 3007 or at firstname.lastname@example.org.
About Colony Title Associates:
Founded in 1995, Colony Title Group handles in excess of 2000 real estate closings per year in the central Maryland area. The founder Tee Tillman has over 23 years experience in the title and real estate law fields. Colony handles closings for several lenders, including banks, credit unions and mortgage brokers. Colony is the preferred choice for many real estate brokers in the area.