Home Buying in Vallejo>Question Details

Salim Vasani, Real Estate Pro in Vallejo, CA

FANNIE MAE homes overpriced?

Asked by Salim Vasani, Vallejo, CA Wed Jan 23, 2013

Do you think Fannie Mae homes are over priced?

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Answers

4
I am having serious problems with my Fannie Mae Short Sales. Fannie Mae finds the HIGHEST 'comp' and then decides THEIR house is worth AT LEAST as much! Never mind that the short sale home is not in the best condition and the comp has been completely renovated! They even went so far as to tell me, on one, that, while my comps were, in fact, based on recent sales, THEIR demand was based on how much money they wanted to net on the deal. They just don't get it. If we are ever going to end this foreclosure crisis we are going to have to get the Banks and the Government OUT of the real estate business and back into the business of banking and governing!
2 votes Thank Flag Link Wed Jan 23, 2013
6/1/2014 Foreclosure in our area (SWFL) 180+ days....still overpriced and I see this post was over a year ago!
Flag Sun Jun 1, 2014
I agree with you Suzanne. I think Fannie Mae's expectations are far from reality. They should be in the business of governing and if they are going to do Real Estate, they should bring onboard experts from the field.
Flag Wed Jan 23, 2013
Depends on the comps. Ask your Realtor to provide the last 6 months sales history of your target area.

Best of Luck,

Josh Barnett, Realtor
Metro First Realty
Web Reference: http://www.GetSoldOKC.com
0 votes Thank Flag Link Sat Jan 26, 2013
supply and demand
The supply is low and the demand is high, if they were not getting offers they would lower the price. This market changes faster than the whether, prices have gone up steadily for over 6 months.
0 votes Thank Flag Link Wed Jan 23, 2013
They are certainly priced at the top of the of the market but i do not see them over priced. What i see is them paying too much money for work that does not improve the cost at even the same amount of the work they completed. the problem is they give too many listings to too few agents who are approve dto get fannie listings. Not all, but a lot of those agents do not seem to answer their phpne, do not answer questions when left as a message and will not meet buyers or other agents at the listings to go over things or answer questions about the homes. Fannie should pick new listing agents who are willing to do the work and who do answer their phones, messages and offer more service to pitential buyers.
0 votes Thank Flag Link Wed Jan 23, 2013
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