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FNMA sure does own alot of real estate!

Posted by Jeff Payne on August 30, 2010 at 4:23am in Short Sale Discussions

How many properties does Fannie Mae own in your area.  I just did a search for my area and since 1/1/09, Fannie has sold 129 properties in our SMALL county.  They have 98 properties for sale in MLS right now.  I would be very curious how many of these 227 properties had short sale offers placed on them only to have Fannie deny them or not extend a closing date.  Our market is very small and Fannie Mae accounted for  3% of all sales since 1/1/09.  There is something very wrong here.

 

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Replies

  • Terry Hammill September 2, 2010 at 4:33pm
    I am not sure if you have seen the latest? Fannie and Freddie plan to sell the properties they take back to select governmental and 'non-profit' organizations. Wonder how many of their 'friends' are forming non-profits as I type this?
  • Jeff Payne August 31, 2010 at 10:47am
    Hey, a great income source so they can pay those bonuses again

    Ben Benita said:
    more good news.....Fannie or Freddie is going to be RENTING OUT homes they own......

    I guess THAT is what will be happening with the homes they own currently!!!

    I just found this out yesterday from a broker friend of mine (his group was awarded one of the property management contracts for this).

    Will send out details once I speak directly with him.
  • Ben Benita August 31, 2010 at 10:45am
    more good news.....Fannie or Freddie is going to be RENTING OUT homes they own......

    I guess THAT is what will be happening with the homes they own currently!!!

    I just found this out yesterday from a broker friend of mine (his group was awarded one of the property management contracts for this).

    Will send out details once I speak directly with him.
This reply was deleted.
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