President Bush has proposed a $700 billion bailout of the U.S. financial system as the credit crisis continues to worsen.  As most people have already read this in the news, some of you are wondering how this will impact the San Clemente real estate market?

The plan, if passed by Congress, will make credit more available to buyers that will hopefully cause San Clemente home sales to pick up and help inventory return to historical averages in order for prices to stabilize.   Credit will become more available as the plan will allow the government to buy billions of dollars in bad loans that will leave banks with more money and fewer credit issues.  This will allow banks to lend money again and hopefully relax some of their current lending standards.  These lending standards, however, will not go back to the predatory practices of the past few years, so don't get your hopes up if your credit needs a little repairing first.

Stay tuned for more updates to come!  For more information on San Clemente real estate, feel free to contact us!