Housing market gets relief after government re opens - ABC 12 – WJRT – Flint, MI

Housing market gets relief after government re opens

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(10/17/13) - For years, the U.S. housing market has struggled to make a turnaround.

That effort became even more challenging when the government shut down earlier this month. Now, with an agreement in Washington, the industry hopes to see a quick return to the normal business model.

People looking to buy or sell homes are relieved to see the government back up and running.

ABC12 News spoke with a Davison woman who just put her mother's house on the market, Thursday.

"I'm thinking it's going to go pretty good because it's ready, it's move-in ready," said Diane Jerichow.

It has been home for Jerichow's mother since 1974. Now the rooms are empty and the house is on the market and Jerichow and her husband watch and wait for signs that the market will pick up again.

Many home loans were delayed because of the shutdown.

"I think people who maybe were hesitant about purchasing a home or even were looking because they didn't know what the future held, none of us did and stock markets did open back up and things look good so hopefully the market will pick up again," Jerichow said.

Ryan Eashoo is a realtor in Genesee County. His phone was ringing more than usual Thursday. With a return to normal government operations, people want to know how soon they can make an offer or close on a deal for a house.

"I told them absolutely, it's going to take a little while though because of the back log of deals that weren't fully pushed through the system before the shutdown, along with all of the other ones that have come in during the shutdown, but it's been very positive, people actually are going to be able to buy a house and the loan be able to close," he said.

"My concern is that there's lots of buyers out there, I think everyone is probably relieved that it's over with and they can get back on track," Jerichow said.

A lot of homeowners tell us they hope the government can work out a long term solution to minimize uncertainty in the housing market.

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