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THE MARKET AND POLITICS UPDATE

Well, the best answer I can give is I do not know.

The war in Iran, gas prices jumping quickly, and news of other possible war threats --

How does all this impact the local real estate market? Well, at the moment it doesn’t seem to be having a huge impact. Homes are still selling, some more quickly than others. Inventory of spring market is starting to roll out for sale. Buyers are attending open houses; lenders are preparing preapproval letters. So, currently everything seems to be in motion and working as it should.

We’ll see if things escalate overseas, and how Wall Street reacts to each situation. We know there was a big loss recently in the stock market.

Doing a little bit of homework, mortgage applications have actually risen over the last two weeks by about 11% so that’s a good indicator that the housing market is moving forward despite the headlines