Integrity Title Inc

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Now I’m not saying that the implementation by the government of the first-time homebuyer tax credit was a bad thing… in fact, it has been a blessing to many. I’ve personally witnessed the joy of numerous individuals, young and old, who have walked away from the closing table beaming with pride after purchasing their first home. In fact, one 53-year oldclientliterally danced a jig, filled the room with her singing, andweptfor joy as she signed her closing documents, having finally realized her life-long dream of becoming a “homeowner.” That, to me, makes it worth while.
However, here we are three months later, and the U.S. Department of Housing and Urban Development is reporting that the housing market remains stagnant and that home sales have hit a new record low during the month of July. Unfortunately, until buyer confidence rises, housing prices will remain deflated, and the market will continue to flounder the home-buyer credit was a nice draw, but apparently, it wasnt enough to make much of an impact.

A report published Monday by the Federal Reserve System suggests that lending policies and practices in the U.S. are, as a whole, tending to ease up for the first time since 2006. According to a cross-sectional opinion poll of Senior Loan Officers employed by both domestic banks and U.S. branches of foreign based banks, the relaxing of mortgage loan qualification standards comes partly from the average consumer applying and obtaining alternate sources of financing (i.e. credit unions and other non-bank lenders) and the competition that has created. It is important to note, however, that the ease in lending standards has been concentrated mostly in the larger banking institutions. Perhaps this will trickle down to our local hometown banks in the near future. Wouldn’t that be wonderful newsfor the Sevier County Real Estate market?

Although we in the title business see our work as slow but steady, the pains of the real estate market are being felt heavily by the small town builder. In a report released today by the National Association of Home Builders, builders concede that the burgeoning market of foreclosed homes and properties has negatively impacted [...]

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209 Chilhowee School Road, Suite 15 Seymour, TN 37865 Phone: (865) 577-9958 Fax: (865) 577-3979 Business Hours: M-F 8:00 a.m. 5:00 p.m.