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?

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

 
Posted by Nogui Aramburo on 06/12/2012 07:44 PM   Comments (1)   in the ActiveRain Channel   hud, property management, foreclosures, short sales, real estate news  
Short URL: http://actvra.in/Crk
This post has been included in North Carolina Real Estate News Durham County, NC Real Estate News
Post is included in group: Raleigh-Durham Real Estate Professionals
Post is included in group: 1st Time Buyers

1 Comments on HUD to Consider Property Management in Dealing with Shadow Inventory

JUN
14
2012
217,826 Points 28 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

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)
10:42am • #1


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Nogui Aramburo (Linda Craft & Team, REALTORS®) Rainmaker_large

Nogui Aramburo

Durham, NC

More about me…

Linda Craft & Team, REALTORS®

Address: 7300 Six Forks Road, Raleigh, NC, 27615

Office Phone: (919) 235-6305

Cell Phone: (919) 771-3609

Email Me

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.



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