In keeping with tradition, Real Estate activity continues it’s wind down for the this month between Thanksgiving & the Christmas holidays. Though it’s a time where most everyone turns inward to family and celebrations of the season, it surprises some that although very few, there ARE still a few committed buyers out there looking during this time. Total housing inventory hasn’t dropped as much as in years past and remains static with 106 homes for sale in the Ojai Valley (an increase of 18 over last December with 88 at this time).
Many of you may be aware of the stringent new Lending Guidelines, referred to as TRID that has had a sweeping impact on real estate transactions. The most significant impact has been the unanticipated delays in escrow closings. In short, TRID is a required integrated disclosure that stipulates unalterable time frames for buyers in the loan process. It would seem that 30 day escrows may be a thing of the past for financed transactions. All~cash buyers have yet another feather in their cap!
Wishing you and your family connections of the heart through this Holiday Season. I suspect there is one item on everyone’s list this year: May there be rain!!!!!