Local Realtors Group Keeping Eye on Congress—and Fate of Freddie, Fannie

Congress is contemplating the elimination of Fannie Mae and Freddie Mac.  As I have mentioned several times recently, Congress will soon be debating possible changes to these government-backed enterprises that buy or guarantee mortgage-backed securities on the secondary mortgage market. 

Proposals for “reform” include possible legislation to phase out and eventually eliminate Fannie and Freddie altogether. The elimination of these agencies, which buy or secure two out of every three loans written, would change the way buyers obtain loans in a most profound way and would have a direct influence on the entire economy. 

Without these government-backed loans, the public would have to depend on private sources and much higher down payments. More on these very important anticipated changes as more information becomes available.

The California Association of Realtors and East San Diego County Association of Realtors have teamed up as industry watchdogs over Sacramento and San Diego County—and Washington—to protect property rights and the interests of homeowners and our profession.

As dues-paying members of CAR and ESDCAR, we are all a part of the government affairs and political action team and this is just another tool to help us watch out for the interests of our clients.

Fifteen Homes Come on Market

Although it is a long summer holiday, there were 11 single-family homes and four condo/townhomes that came on the market this past week, four within walking distance to the downtown village shops and restaurants. 

A great two-bedroom condo with underground parking is new on the market—in the La Mesa Village Plaza steps to everything La Mesa.   Three of the new listings in The Village are on Date, Mission Bell and Fletcher Drive and all  have views and are either newer or refurbished.