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#431881 - 01/15/14 09:36 AM Fannie Mae Homepath
SethJLamb.com Offline
Junior Member

Registered: 05/21/13
Posts: 4
Loc: Philadelphia, PA
Are these homes usually good deals? Do they usually go for below or above asking price?

-Seth

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#431894 - 01/16/14 01:56 AM Re: Fannie Mae Homepath [Re: SethJLamb.com]
BpoBill Offline
Major Contributor

Registered: 09/24/06
Posts: 2304
Loc: US
Your answer is "it depends on many factors." On average they seem to price close to market value. Some are priced above, and some are priced below. Same as every other listing out there.


Edited by BpoBill (01/16/14 01:57 AM)

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#433375 - 02/24/14 08:51 AM Re: Fannie Mae Homepath [Re: SethJLamb.com]
LizL Offline
Major Contributor

Registered: 08/27/05
Posts: 1793
Loc: Missouri
Homepath properties are appraised before they go on market. Usually, the initial price is pretty close to appraised value. After all, Fannie knows they cannot sell a house above market value, because it will not appraise.

Homepath listings, like all foreclosures, become bargains after having been on market for a time; because they get regular price reductions.
_________________________
Broker/Owner, REALTORŪ,GRI, ABR
REO listing/selling since 2004; BPOs only for current clients

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#433377 - 02/24/14 09:33 AM Re: Fannie Mae Homepath [Re: LizL]
MOMO Offline
Member

Registered: 03/02/13
Posts: 407
Loc: USA
Originally Posted By: LizL
Homepath properties are appraised before they go on market. Usually, the initial price is pretty close to appraised value. After all, Fannie knows they cannot sell a house above market value, because it will not appraise.

Homepath listings, like all foreclosures, become bargains after having been on market for a time; because they get regular price reductions.


Homepath does regular appraisals and not BPO's? I list a lot of foreclosure properties for a local bank and they do appraisals and list at appraised price which is almost always WAY above market value...funny how that happens when an appraiser doesn't have the sale price in front of them.

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