From the San Francisco Chronicle:
That’s how many homes will be repossessed by banks or sold at distressed prices by 2016, according to Oliver Chang, a Morgan Stanley analyst in San Francisco. The dismal environment has prompted Fannie Mae and Freddie Mac to rethink their strategy. The mortgage companies, which were seized by the government in 2008, are turning some of their inventory of repossessed homes into rentals – part of a bid to cut losses, stabilize neighborhoods and support housing values.
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About David Mayes
David Mayes has recently received his GREEN certification from the National Association of Realtors. If you enjoy personal attention and great customer service - you need look no further, he cares for his clients and will always go the extra mile to make a deal happen or make a client happy. Whether you are a BUYER or a SELLER all of your needs and wants will be met. With a Master's Degree in Business Administration, Short Sale certified, David brings a rare combination of investment savvy and seasoned experience to every transaction. He writes regularly on OCRealEstateWatch.com and can be reached at
david@ocrealestatehq.com or by phone at 949-632-8115.
