Fannie Mae Homes Over Market Value

Real Estate Agent with Essential Properties, Inc
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 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.
Posted by

Becky Garcia short sale specialist



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Comments (1)

Dan Hopper
Dan Hopper - Gold Way RE - Westminster, CO
Denver Broker / Author / Advocate/Short Sale

That is a shame, Becky.  It appears that FNMA is neither paying attention to the BPOs or appraisals, or those performing those are WAY OFF, in hopes of getting listings!! (especially, the brokers doing BPOs).

Jan 29, 2013 01:09 AM