So maybe you heard rumblings of something happening at RD. Well there certainly are changes being made. Some positive some not so great. First off lets talk about timing. RD is not out of money, for the last week of November they are not accepting application, but that’s not so bad, they anticipate being caught up on all the files Dec. 1St when they start accepting applications again. If we can go from 3+ week turn times to a couple days, well that’s fantastic! For UP TO DATE Turn Times follow this link.
Here is an outline of what affects real estate agents in regards to the guideline changes:
It should be noted that we are still waiting to see how all this unfolds but come Dec. St these changes will go into effect.
The real estate market has seen dramatic shifts in recent years, transitioning from a seller’s market during the pandemic to a more balanced landscape. As we move forward, understanding these changes is crucial for both buyers and sellers.
The Pandemic Boom:
During the pandemic, the real estate market experienced unprecedented demand. Low-interest rates and remote work trends fueled a surge in home buying, creating a highly competitive seller’s market. Home prices soared, and bidding wars became commonplace.