Oct 02

How Will Government Shutdown Impact Michigan Real Estate Investors?

Could the current government shutdown do more damage to the Michigan real estate market, or will it actually open up more deals for investors?

Those that do have Michigan real estate transactions in process could potentially affected. This includes those with government backed loans involved, and where lenders can be hindered from necessary verifications due to being unable to access data held by the government.

These are likely to simply be temporary delays, and given this certainly isn’t the first government shutdown in history and it is likely to be over relatively quickly the impact on the market as a whole should be minimal.

However, while it lasts there could be increased investment potential. With some deals being derailed or falling through due to this situation and government employees falling delinquent on loans, as well as some buyers icing their home search out of uncertainty over the economy investors could find even more motivated sellers in the market.

It’s not all doom and gloom for sellers or those flipping houses either. With government workers being furloughed and many fearing for the future of their jobs a good percentage are probably waking up to the fact that turning to acquiring real estate investment as a landlord or buying a business with property is their best move. This could provide a short burst of additional, highly motivated buyers, many with significant retirement accounts to cash out and put to work.

While we all feel for those being negatively affected by current political events, there is potential to create win-win solutions for all parties and investors could be among the most valuable players in providing help to those that need it most.

For all your Michigan real estate title and closing needs MyCoordinator LLC is here to help, and here you’ll always get straight answers on how the shutdown could be affecting your closing.