A day late and a dollar short?
I hope they have not put the cart before the horse, but at least they are trying.
It may be too late because the larger section of the investor populous has pulled back, from purchasing real estate locally, starting in the Fall of 2013.
That was the time, as you may remember, that Santa Clarita Valley homes prices started to “more steeply” incline.
The investors of the world found that the “profit/loss” figures did not pencil out.
Good thinking Fannie and Freddie!
However, Fannie Mae and Freddie Mac are attempting to change that, if there are investors left that buyers are going to be competing with.
Let me clarify: Fannie Mae = HomePath.com and Freddie Mac = HomeSteps.com
In California, at least around the Santa Clarita Valley, we don’t have very many properties, if any, as of the date of this post, for sale that are for sale by Fannie or Freddie. (More are coming – so stay tuned…)
More inventory on the way, they say
However, looking around Los Angeles, we find them for our clients, and we should be having others listed for sale in the Santa Clarita Valley and in the Surrounding communities in the coming months.
The “price ranges” are also pretty sweet compared to the median price range that exists in the Greater Los Angeles Areas. The LA times reported that Fannie had 2,136 properties listed for sale in California – many below $200k.
They are going to cut out any of the investor buyers for the first 20 days from being able to bid/offer on properties being offered for sale in the HomePath or HomeSteps programs.
The only requirement for the “owner occupant buyer”, besides being able to qualify, is that the owner will have to live in the property for a year after purchase as the “owner occupant”.
This takes Effect for homes listed for sale on or after December 17th for the Freddie Mac Foreclosures and all homes listed for sale after January 2, 2014 for those foreclosures put up for sale by Fannie Mae.
Give us a little info, and we’ll send them to you!
If you want to gain access to the available listings that fit into either of these programs – just full out this form and we will do the rest.