ocean city real estate: Finding Equity In Foreclosures - Timing The Market
- 09/11/15 05:21 AM
First, I have to admit that I don't really know how Fannie Mae decides the listing price when they bring a foreclosure to market. My guess is the price is decided by the same folks who are tasked with working through a great deal of inventory in very little time without ever laying eyes on the property. The result, however it occurs, is that Fannie seems to be pricing their properties about six months behind the market. My client was a single young lady looking for her first home. Finding something she could afford was proving to be difficult. You see, the … (16 comments)
First, I have to admit that I don't really know how Fannie Mae decides the listing price when they bring a foreclosure to market. My guess is the price is decided by the same folks who are tasked with working through a great deal of inventory in very little time without ever laying eyes on the property. The result, however it occurs, is that Fannie seems to be pricing their properties about six months behind the market.
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