Several agents in Arizona and I am sure other areas as well, have been having difficulty getting Fannie Mae to offer homes at current market value. Many Fannie Mae short sales or foreclosed homes have been difficult to sell as they have been priced well above the current market value. Agents are having difficulty with short sales and even after providing comps to Fannie Mae, homes still are not reduced.
We are hoping something is done soon to correct this issue and help homeowners prevent foreclosure and help home buyers purchase homes at market value.
A petition has been started at https://petitions.whitehouse.gov/petition/force-fannie-mae-behave-responsibly-or-shut-them-down/vtY71bhk to get the Federal Administation to take a look at Fannie Mae's practices and take action.
I am urging all REALTORS to sign the petition. You do have to register but it's worth it. 10,0000 signatures are needed.