Economic Improvement

Quest Loans is feeling pretty optimistic about the current status of the housing market. Sure, there is always room for improvement, but most things are pointing in the right direction. For instance, the price of single-family homes has risen once again in July for the sixth straight month. It was not a huge increase, but more economists would agree that the market is definitely heading down the road of recovery. As of August, home resales and new home construction has been improving as well. Because of all this good data, the stock market has even seen some gain. Quest Loans would like to help you take advantage of this progress. If you are looking for a great lending company, look no further! We would love to help you get started on your home loan today! 888-883-5252.

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New Act to Protect Taxpayers?

We reported about the possibility of the government doing an eminent domain procedure regarding underwater mortgages. Now, California Representative John Campbell has announced "The Defending American Taxpayers from Abusive Government Takings Act". This Act is meant to stop the local governments from using federal tax dollars to seize underwater homes, and turn that money toward profiteering schemes. This act is meant to uphold the law and protect taxpayers.  We can all agree that underwater mortgages are slowing down the recovery of the housing market, but there has to be a better solution than eminent domain.

It is supposedly going to protect taxpayers' investments, defend retirement savings, and preserve the rule of law. What do you think about this new Act?

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Builder Confidence Continues to Rise!

At Quest Loans, we love to report good news in the housing market! Once again, Builder Confidence has risen for the 5th month straight! Newly built, single-family homes are selling well and this helps move the housing market in a positive direction. Current sales conditions are making builders around the country smile! Future sales prospects and the amount of traffic they are getting in the model homes has increased tremendously. However, the cost of building materials is rising which could potentially cause an issue for builders in this fragile economy. If they can afford to purchase these materials and put together crews for work, jobs can be made and the economy can keep improving.

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