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“What Effect does the Bad Weather have on Real Estate Sales and Mortgages?”

image courtesy of vichaya kiatying-angsulee/freedigitalphotos.net
image courtesy of vichaya kiatying-angsulee/freedigitalphotos.net
As I write this blog, we are expecting more snow. We certainly have had our share of snow and bad weather this winter. I know that bad weather is not unique to Connecticut and yes, I know many parts of the country have had weather related challenges. 

December 31st, 2013 I had 38 preapprovals out to folks that wanted to buy a home. Just to illustrate only 6 have homes on deposit. Since I track all my numbers, here is how my numbers usually work. Once I have issued a preapproval 70% of these folks will have a home on deposit within 60 days. The simple answer, the weather has had an effect on real estate sales and in turn, mortgages.

Based on all the pent up demand for those that want to buy a home, this Spring will bring lots of transactions. 

 

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