Emergency Economic Stabilization Act & the San Diego Real Estate market

It's official, President Bush has passed the "Emergency Economic Stabilization Act". Both the Senate and Congress passed the revised bill, and then it was quickly signed by President Bush. What does this mean for San Diego Homeowners, home buyers and investors?

While the bill doesn't directly help homeowners and homebuyers here in San Diego, it does help indirectly. Much of American buying habits are driven by consummer confidence. When Americans are confident in the economy and the future, they tend to buy more. They buy more homes, appliances, cars, clothes, investments, etc. So the huge 'guarantee' and influx of money will help boost confidence and thus help the economy and the San Diego Real estate Market.

Another benefit will be that the lending institutions will have more capital to survive, who will in turn likely be lending more money. The flow of credit is critical for millions of businesses and jobs here in San Diego.

While this bill certainly isn't the last one that will be drawn up, it should help.

The word on the street is that banks will be able to speed up the short sale process, thus making it easier for buyers and sellers here in San Diego. This is huge, because right now it can take 4-12 months to get a short sale through to close of escrow. Obviously you don't want to enter into a short sale with an inexperienced short sale agent, or your chances of success are less than 10%! With an experienced Short Sale Agent, like myself, the chances are over 90% of success.

All the best
Marc

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For everything you need to survive and thrive the current San Diego Real Estate Market, go to http://www.MarcVonMusser.com

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