Mike Rizzo's Blog – October 2012 Archive (1)

Fannie Mae has become unreasonable on their asking prices

Over the last few months, it has become apparent that Fannie Mae is more interested in foreclosing than approving short sales.  The scenario is the same over and over again.  The BPO comes in at one price and Fannie Mae adds 20 or 30% and says that is what they will accept.  Some have suggested that they are trying to get next year's prices if the current price trends continue.  In the meantime, buyers are unwilling to overpay by that much and are backing out of the contracts when they hear…

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Added by Mike Rizzo on October 31, 2012 at 9:32am — No Comments

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