San Francisco, CA (PRWEB) October 29, 2013
The government shutdown, which ended on Oct. 16, 2013, is affecting the current San Francisco housing market. Tim Gullicksen advises on what to expect in the market in the coming weeks.
While the shutdown was in effect, loans were being delayed. Lenders rely on the IRS to verify incomes of prospective borrowers, but could not get that information from the IRS at the time. Now that the shutdown is over, there may still be delays due to the backlog of loans. Read more on the shutdown and the housing market here: http://www.latimes.com/business/realestate/la-fi-shutdown-housing-market-20131012,0,4262202.story. During the shutdown, there was no way around these roadblocks. Without staff in government offices, employment verifications could not be completed, which lenders need to approve loans.
The ripple effects of the shutdown may affect the housing market and for some time, and in turn affect the overall economy recovery. The housing market triggers economic growth, and with delays in loan approval, this growth may also be delayed.
Tim Gullicksen works to provide accurate information on the real estate market so his clients can make the best decisions for themselves when buying or selling property in San Francisco. Gullicksen has been the highest rated realtor on Yelp in San Francisco for the past three years. He's consistently the top agent in Zephyr's Pacific Heights Office, and was number one company-wide in 2012. Zephyr Real Estate is the largest real estate company in San Francisco, with the highest dollar volume of sales as well as the highest number of units sold.
For more information, please visit: http://www.timgullicksensf.com/.
About the company:
Gullicksen has been a top-producing agent since his first year in the business, and takes great pride in managing every aspect of each transaction. After graduating from high school in the South Bay, Tim earned a bachelor’s degree in political science and history from the University of California-Berkeley. He went on to earn his teaching credential from JFK University in Orinda, and taught kindergarten in the San Jose Unified School District. He brings an educational approach to real estate developed from that background, and sees himself as a facilitator of property transactions.