Fannie Mae and Freddie Mac Resume Foreclosure Sales
Posted by Benjamin Dona on Monday, November 29th, 2010 at 8:48pm.
Fannie Mae and Freddie Mac have notified brokers representing the GSE's foreclosure inventory to once again begin marketing their properties for sale.
This is really good news for the Florida real estate market as both entities together hold or guarantee a substantial amount of homes - 31 million homes nationwide - of which, 12% for Fannie Mae and 17% for Freddie Mac are currently with delinquent borrowers in Florida.
The embargo on selling these properties no doubt led to the overall decrease in total existing home sales in September and October. Getting them back on the market quickly should help as the sooner we can clear them from the current inventory, the sooner the Florida market can begin to stabalize again.
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About the Author
Benjamin Dona is the Broker and Owner of Gulf Coast Associates, Realtors in Bonita Springs, Florida. He holds two advanced degrees, an MBA and an MA, and has an extensive background in both business and marketing. In 1998, he founded Gulf Coast Associates, and formed a group of like-minded Realtor® associates dedicated to offering professional Southwest Florida real estate services by concentrating on information, education and the use of leading edge technologies. He also is a recognized expert on the "Net," a much-quoted and read blog author, and a contributor to both national and international news outlets. Benjamin is a member of the National Association of Realtors, the Florida Association of Realtors, and numerous local real estate boards throughout Southwest Florida.
Contact Benjamin Dona at 239-948-3955
Southwest Florida Real Estate Blog
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