Relevant:
- First Government REO-to-Rental Transaction Closes - Florida properties sold
- Short sales and foreclosures made up 52 percent of all recent Southern California home sales -- Lenders aggressively pricing lower-end properties to move. Two Pasadena examples.
- FHFA: Fannie And Freddie REO Sales Will Be Targeted and Not Deeply Discounted
- Is a Sellers' Market Emerging in California?
- Existing U.S. Home Sales Decline as Supply Drops
2012-05-03 — nationalmortgageprofessional.com
Carrington Holding Company, Amherst Securities Group, and Waypoint Financial are examples of investors now active in purchasing single family REOs and turning them into rentals and holding for longer terms rather than the typical short-term holds. On the supply side, Fannie Mae is accepting applications from investors to bid on properties for their REO-to-Rental pilot program, with similar programs expected to roll out in coming months.
Demand for REOs is very likely a key driving force behind increasing sales prices for REO properties (as measured on a median price per square foot basis) at a much faster pace than non-REO sales. Over the last year, REO-only prices have jumped a healthy 5.5 percent, while fair market sales dropped 2.9 percent.
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.