[quote=DaCounselor]What spdrun said, actually. Doesn’t Fannie have 1.7 million homes that are 90+ days delinquent?? What is Fannie, about 50% of the market? So if all the other junk paper out there is equivalent to Fannie’s then we are looking at about 3.4 million homes that are 90+ days. That’s a few homes.[/quote]
I’ve looked on the Fannie website recently and realized that most of their inventory in SD County are condos. There are a few scattered SFR’s here and there but they usually get sold in one day or less. I also feel that they are priced competitively given that some of them have not been completely fixed up since being lost in foreclosure (perhaps just cleaned up). So they’re not really a “bargain.”
OTOH, the counties of Riverside, San Bernardino, Fresno, Stanislaus, Merced and San Joaquin Counties have a LOT more FNMA SFR’s to choose from. As do the few “flyover states” that I briefly looked at.
Sacamento County distressed properties seem to be moving very briskly.
