Killeen: Area Realtors Impacted By Government Shutdown

By: Nick Delgado Email
By: Nick Delgado Email

KILLEEN (October 6, 2013) - The government shutdown is creating a domino effect and has impacted the housing market in Central Texas.

Local realtors said the impacts haven't been too significant, but they are noticeable.

"It kind of caught me by surprise I didn't think it was going to happen," said Johnny Vacca of Remax Redzone.

"The furloughs definitely slowed us down. I had a handful of clients that put off purchasing."

Clients were putting off closing the deal because of financial fears anticipated from the shutdown.

Vacca said he's been a realtor for nearly 18 years.

He said he was new to the real estate industry the last time the government shutdown.

"I was too new and too wet behind the ears as a realtor. I was just moving forward selling what I could establishing myself and it came and went without even me noticing it," he said.

Some clients are slowly coming back and continue to look for a home to buy or rent.

But, Vacca said some clients are have settled for living space that is priced even lower than the their initial budget plan.

"I was a little bit concerned about what the how the implications would go down," said Gladys Monge of Monarch Realty Group.

"There was a little bit of uncertainty and it still is. There is nothing set in stone and it's like a waiting game."

Monge said luckily for her most of her clients are active duty military and were not immediately impacted by the shutdown.

But she said home buyers and sellers remain cautious.

She said some in the real estate industry are worried.

"Especially if we cannot get our deals closed of course we don't get paid until the actual transaction closes, so yes, there is going to be an impact potentially," she said.

"Me, personally I try to manage with savings in case of (a shutdown), but there's a lot of people who might see an impact if they don't have that many deals or they have a lot of deals in the pipeline that had to be put on hold."

Realtors are optimistic and hopeful the market will remain stable even after the shutdown is lifted.

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