[Lorianne]

The government is hell bent on this bulk sales of foreclosed property scheme.

If you are a first time home buyer or small time investor, too bad. Political connected big investment groups will get first grabs on foreclosed property.

[Lorianne]

Realtors: Sale of Foreclosed Homes to Spell Doom For Housing Market

http://monrovia.patch.com/articles/realtors-sale-of-foreclosed-homes-to-spell-doom-for-housing-market-87e8bab8

Florida group complains about federal bulk foreclosure sales
http://articles.orlandosentinel.com/2012-08-23/business/os-foreclosure-bulk-sales-20120823_1_florida-realtors-fannie-mae-lefrancis-arnold

Home-Grown Investors Can’t Fight Bulk-Buying of Distressed Homes
http://www.loansafe.org/home-grown-investors-cant-fight-bulk-buying-of-distressed-homes

[Innovative]

Article gives link to CAR’s more detailed information on this:

http://www.car.org/newsstand/newsreleases/2012releases/fhfabulksales

“The FHFA, Fannie Mae’s conservator, announced earlier this summer that winning bidders in the foreclosure auction had been chosen, with transactions expected to close in the third quarter. In July, Fannie Mae created an LLC in California, called SFR 2012-1 US West LLC, to transfer the foreclosed properties from Fannie Mae to the LLC. It is unknown whether the winning bidders will purchase the full LLC or only a share, thus splitting the ownership between Fannie Mae and the winning bidders. ‘

Whenever the government gets involved, it never ends well...

[ElectionInspector]

The government is hell bent on this bulk sales of foreclosed property scheme

...just like the S&L bailout, hellbent on enriching the donors with taxpayer backed funds. Crooked DC rats in both parties get rich off the manufactured crisis and the taxpaying public gets screwed...thanks Boner and MacDaddyConell, our Repeubs always lookin out for us in DC! Yeah Right...

ymmv

[familyop]

"these dated valuations will drag down the Inland Empire’s home prices,"

I wish that they'd do that in my locale. Lower property taxes.

[Fido969]

These realtors were pushing people into homes they couldn’t afford, and making big bucks on the “flippers”. They were pushing creative finacing when people wouldn’t qualify for a regular loan, and they were riding high when the market went out of sight.

Now they’re complianing about the foreclosures? They were a big part of the real estate mess.

[elkfersupper]

I have been liquidating troubled assets for decades.

There is an undeniable truth in that business: "The first loss is always the best loss".

FHFA is now a decade late.