Another Housing Alternative

We changed blog hosts last night, which should mean faster loading. It’ll take a day for the change to migrate through the internet, so as you pick up this new post, let me know it working!

Hat tip to both MB and daytrip who sent this in:

7 Comments

Jim the Realtor on September 16, 2011 at 12:03 pm

From NMN:

The Federal Housing Administration is selling 11,000 to 13,000 foreclosed homes a month after re-engineering the way it manages and markets REO.

“Monthly sales were as low as 2,725 in December 2010, but rose to an all-time high of 13,609 in June,” acting FHA commissioner Carol Galante told a congressional panel.

Until recently, one contractor performed property maintenance, marketing and sales of the agency’s REO inventory — which meant that firm made money if the property sat on the market, but former FHA deputy assistant secretary Vicki Bott decided to divide those functions into three contracts to expedite listings and incentivize sales.

For the first nine months of fiscal year 2011 (ending June 30) the average days-to-list and the average days-to-sell REOs decreased by 76 days (61%) and 25 days (12%) respectively, as compared to FY 2010, according to the commissioner’s Sept. 8 testimony

This acceleration of sales has allowed FHA to reduce its REO inventory by nearly 40% in four months.

“As a result of these initiatives and despite the spike in properties being conveyed to us, FHA’s inventory of REOs is down to 48,324,” Galante testified. The agency had an REO inventory of nearly 80,000 REO at the end of March.

SD_Coastal on September 16, 2011 at 2:12 pm

Better hurry, the REO deals are going FAST!

Joe on September 16, 2011 at 4:48 pm

Oscar the Grouch must be sooo jealous…

3rd Generation on September 16, 2011 at 5:35 pm

I’ve passed this idea on to Sheriff Joe over in Maricopa County for the prototype debtors prison model now being developed by FEMA. I suggested he make a few modifications including daisy-chaining all units together and placing a pure copper ground strap to earth on each unit while sending 1,000,000,000,000 volts and 10,000 amps through each unit after lights out each night…

This way, if say an inmate would try and leave their unit they would immediately be shocked to death and fried to a crisp saving the state the enormous costs of rehabilitation. This so far, has eliminated sleepwalking in 100% of the inmates studied. Experiments continue with lowering the volt/amp combination based on the individual guests offense but so far they have resulted only in turning the inmates dermis a particularly sickening shade of orange reminiscent of multiple and ongoing bad or phony tanning sessions in an undisclosed Orange County ca location…

I’ll keep you posted on updates as they are received here. The company mfg these personal shelter/incarceration units, btw will have an IPO in early 2012. Watch for it. Symbol will be ZAPP…