Government shutdown affects local reality

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The government shutdown is having an impact on the real estate market.

The time it takes to close a sale usually takes anywhere from 30 to 45 days, however, the shutdown can cause that amount of time to lengthen. For home-buyers looking to receive a loan, that process now could be delayed due to the processing of tax transcripts and social-security issues.

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If the shutdown continues, this could cause a serious back-up among real estate companies. Exit Prestige Reality Owner Tashia McGinn said, “Agents, brokerages that are used to turning properties every 30 days are probably going to start seeing these properties close anywhere from every 60 to 90 days.”