Every four years people question what effect the Presidential election might have on the national housing market. Let’s take a look at what is currently taking place. The New York Times ran an article earlier this week where they explained:
“A growing body of research shows that during presidential election years — particularly ones like this when there is such uncertainty about the nation’s future — industry becomes almost paralyzed. A look at the last several dozen election cycles shows that during the final year of a presidential term, big corporate investments are routinely postponed, and big deals are put on the back burner.
The research is even more persuasive on the final year of an eight-year presidential term, when a new candidate inevitably will become president.”
We are seeing this take form in the latest economic numbers. However, will this lead to a slowdown in the housing market? Not according to Fannie Mae, Freddie Mac or the National Association of Realtors.
The Impact on Housing Throughout 2016
Let’s look at what has happened and what is projected to happen by these three major entities.
“In spite of deficient supply levels, stock market volatility and the paltry economic growth seen so far this year, the housing market did show resilience and had its best first quarter of existing-sales since 2007.”
“Recent data darkened the growth outlook for the first quarter of 2016. However, despite the disappointing economic reports, we still forecast housing to maintain its momentum in 2016.”
“Consumers and businesses showed caution at the end of the first quarter…(but) Home sales are expected to pick up heading into the spring season amid the backdrop of declining mortgage rates, rising pending home sales and purchase mortgage applications, and continued easing of lending standards on residential mortgage loans.”
Bottom Line
Even during this election year, the desire to achieve the American Dream is greater than the fear of uncertainty of the next presidency.
THINK OF ME, LYNN RICHARDSON, FOR ALL OF YOUR LAKE TAHOE AND TRUCKEE REAL ESTATE NEEDS!
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Address: 10423 Lenelle Lane, Truckee CA
Asking Price $435,000
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Single Family Residence
3 Bedroom
2 Bath
2 Car Garage
Bright and sunny home in Prosser. Single level home on level lot with plenty of parking. Entire interior of home has been recently painted, kitchen has newer stainless appliances, new porcelain counters, large pantry with sliding shelves and all windows were replaced a few years ago.
Spacious master suite has lots of light and bath has been remodeled. French doors off of dining area open to sunny deck & large yard. Garage is insulated, heated & has a hoist – perfect for a shop. Storage shed stays w/property.
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Contact me today to view this wonderful home on a lovely wooded lot.
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New on the market in the Truckee area are two wonderful lots that will be perfect to build your new home in the Lake Tahoe region. You’ll be close to all the recreation and amenities in the town of Truckee, Donner Summit, and of course, Lake Tahoe.
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PLA – VADA, DONNER SUMMIT LOT
10202 Aspen Court, Soda Springs CA
Asking Price $74,900
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Pla-vada lot on Donner Summit
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Beautiful lot located at the end of Aspen Court with huge frontage which allows large building envelope and extra privacy. Level lot with slight upslope. Property backs to easement and has easy snowmobile access to backcountry. Close to all Donner Summit ski areas and a quick drive to downtown Truckee.
Pla Vada is a small community which borders the Yuba River and is adjacent to hiking, biking, x-c skiing and ATV trails.
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TAHOE DONNER LOT
Tahoe Donner Lot
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15765 Northwoods Boulevard, Truckee CA
Asking Price $105,000
Beautiful lot on quiet side of Northwoods. Gentle upslope from street with level building site. Greenbelt to rear of
property with good sun and mature pines. Great value for level lot and all the amenities at Tahoe Donner including beach access at Donner Lake with boat ramps, pool, tennis courts, golf, equestrian center, cross country skiing, downhill skiing, clubhouse with exercise equipment and classes and much more!
NOTE: This is a new listing and it’s already under contract! Contact me today. I’ll get your house listed and sold in no time!
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Lynn Richardson
Coldwell Banker NO.CA.-TD
Main: 530-587-7474
Agent: 530-582-2422
17400 Northwoods Blvd #2
Truckee CA 96161
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THINK OF ME, LYNN RICHARDSON, FOR ALL OF YOUR LAKE TAHOE AND TRUCKEE REAL ESTATE NEEDS!
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Share this: Lynn Richardson, Your Friend in High Places
YOUR FRIEND IN HIGH PLACES 