Fannie Mae Sells Homes For $200 To Investors, Driving Property Values WAY Down

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Fannie Mae Sells Homes For $200 To Investors, Driving Property Values WAY Down

Fannie Mae Sells Homes For $200 To Investors, Driving Property Values WAY Down

Now, why didn’t they sell them back to the families at these prices?

Jacksonville.com

On March 8, a San Diego company purchased a group of foreclosed Jacksonville homes from government-backed Fannie Mae, getting two for $200 each and another three for $1,000, $2,500 and $3,500.

Last fall, Dallas-based Harbour Portfolio VI purchased at least six foreclosed Jacksonville houses, also all on the same day. The price for two was as low as $2,400. One of the six, at 3046 Columbus Ave. on Jacksonville’s Northside, which sold for $14,700, stood vacant and wide open March 30. The knob on its front door had been jimmied off.

 

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One Response to “Fannie Mae Sells Homes For $200 To Investors, Driving Property Values WAY Down”

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  1. […] don’t seem to get any better. Remember Fannie selling foreclosures for $200 A POP? Well now it seems they’re selling what we call it in the Commercial RE world “REO […]


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