Santa Ynez Valley June Real Estat Statistics
Surprisingly, despite all that is going on in the news, we have seen an uptick and real estate activity. The market here is still buzzing along, and seems to be moving well. We have less inventory than May, and are seeing quicker sales. While the real estate sales environment is moving along quite well, the lending environment is a little different. As the Covid Pandemic got underway, lenders put the squeeze on Jumbo loans as the secondary markets for these loans dried up, and then phasing them out all together. In the most recent news, however, some lenders have been working toward reviving their jumbo loan programs. "JMAC Lending restarted its jumbo program on Monday, a week before the target date the company set in March when it suspended funding the bigger mortgages as the COVID-19 pandemic began hitting the U.S. economy. "There is a high demand for jumbo loans right now as buyers return to the housing market, especially in high-value areas,” JMAC Lending’s P
