Fannie Mae Bulk Sale of 2,500 Properties

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Education & Training with Retired Real Estate Broker, Maryland Blogger
http://actvra.in/xsN

Fannie Mae Bulk Sale of 2,500 Properties

According to The Wall Street Journal, major investors are preparing to bid on sale of 2,500 homes in eight regional pools.  If this bulk sale is successful, there could be a major shift in the way the foreclosures are sold.  Last year, Fannie Mae sold more than 240,000 homes, mostly by listing them individually with real estate agents.

This test is designed to determine whether there is a new kind of buyer for properties in the foreclosure inventory.  Many real estate professionals do not agree with the effectiveness of bulk sales to national or regional investors.  Personally, I think the results would be better if investor financing were made available to local investors that really know the markets and would agree to keep the homes in rental portfolios for a period of time.

The properties being offered in the bulk sale represent about 2% of the 120,000 foreclosed properties held by Fannie Mae at the beginning of 2012.

Read the article from The Wall Street Journal and share your thoughts on how you think Fannie Mae should sell the foreclosed properties. 

Wall Street Keys On Landlord Business

Spring flowers are blooming.  Be sure to have your camera in hand to capture the changing colors of the season.

Kentlands Spring Flowers IMG_4789

Photographs by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

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Roy Kelley, a real estate broker since 1960, has retired from his position as Associate Broker with RE/MAX Realty Group in Gaithersburg, Maryland. The needs of past clients and referrals will be met by long time associates. 



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Topic:
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500 properties
fannie mae bulk sale of 2

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Rainmaker
484,596
Cal Yoder
Homes For Sale in Lancaster PA - 717.413.0744
Keller Williams Realty Lancaster

Roy, good information and I will watch to see how this might effect our market. Have a great evening.

Cal

March 19, 2012 08:00 PM
Rainmaker
791,181
Wayne Martin
Wayne M Martin LLC
Wayne M Martin LLC

The properties in these pools must be held as a rental for periods of 2 to 5 years. Like your idea of providing financing to local investors familiar with the market. They might even have that idea on the table for the next round.

March 20, 2012 04:19 AM
Rainmaker
1,762,928
Roy Kelley
Retired Real Estate Broker, Maryland Blogger

Thanks so much for your feedback.  I would love to see more financing available for local real estate investors that would love to purchase the available foreclosures.

March 20, 2012 09:23 AM
Rainmaker
365,276
Russell & Tracy Lee Parker
Experienced Property Managers Since 2006
RE/MAX Dallas Suburbs

If this happens, I really like that idea of local owners/investors....they are easier to help with maintenance issues, tenant problems etc....than the faraway owners. 

March 21, 2012 12:32 PM
Rainer
5,894
Phil Sotelo
Real Estate eBroker Inc.

Banks like to sell REO in Bulk because they go through NPO's (Non Profit Organizations), so the banks get certain tax credits. 

July 09, 2012 09:30 AM
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Rainmaker
1,762,928

Roy Kelley

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