HUD to Consider Property Management in Dealing with Shadow Inventory

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Real Estate Agent with Linda Craft & Team, REALTORS® NC 247573
http://actvra.in/Crk

Uncle Sam HUD

I heard this rumor at my continuing education class a couple of weeks. HUD maybe considering getting into the property management business this year.

There is a massive wave of foreclosures (aka Shadow Inventory) coming soon as banks let go of millions of properties on the books this year and next.

It would be foolish to flood the market with shadow inventory all at once. It would kill the housing market all over again and cause the cycle to repeat itself. The sensible thing would be to release these properties piece meal.

Which is why I believe HUD would even consider such a thing as property management. It would be an effort for HUD to monetize these properties while holding a flood back from housing market.

Assuming they could even get the logitics in place, do you think this would be a good idea or bad? This program could pay for itself if its run properly. But that's a big IF. 

How do you think this idea would pan out?

Posted by

Nogui Aramburo
Real Estate Broker / Manager
Linda Craft & Team, REALTORS
www.lindacraft.com
(919) 771 3609

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Topic:
ActiveRain Community
Location:
North Carolina Durham County
Groups:
Raleigh-Durham Real Estate Professionals
1st Time Buyers
Tags:
real estate news
short sales
foreclosures
property management
hud

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Ambassador
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Eleanor Thorne
Cary Mortgage Loans 919-649-5057
Steve Thorne NC Mortgage Experts

Yes - we undertand that HUD is talking about this too.  Anything to get the Foreclosed homes back to being lived in (and off the market)

June 14, 2012 10:42 AM
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Rainmaker
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Nogui Aramburo

Real Estate Professional in the Raleigh Area
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Additional Information

I'm a bilingual (Spanish) real estate broker and manager with The Linda Craft & Team REALTORS in Raleigh, North Carolina.

Part of the "Triangle", Durham is home to the famous Duke University as well several prominent medical and technology firms based out of the Research Triangle Park. Currently undergoing a renaissance, Durham's downtown has been almost completely revitalized with the old tobacco warehouses (Durham is an old tobacco town) being converted into living areas and office spaces. 

While Real Estate is my profession, DJ Culture and Design is my passion. I am part of DJ group called Sound Cartel. We play electronic dance music, mostly house music at Mosaic Wine Lounge, Talullas and around the Triangle. I also create our graphics and maintain our website.