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Fannie Mae Sells Bulk Homes in Concentrated Metro Area - Strategic Real Estate Coach

Fannie Mae Sells Bulk Homes in Concentrated Metro Area

In February, for the first time, Fannie Mae announced that they would be selling bulk homes in specific metro areas – namely Florida, Los Angeles, Las Vegas, Chicago, Atlanta and Phoenix. It’s the first time they are agreeing to sell a large block of homes in one concentrated area. Previously, any bulk sales would include homes scattered throughout the country. But recently, a block of 275 homes was purchased in Phoenix in a $34 million cash deal, and thorough research by Tom Ruff of AZBidder revealed that the buyer was actually a Fannie Mae-created LLC. “A source close to the deal said Fannie Mae is transferring the properties to an LLC that the winning buyer will invest in through a private placement deal. That means the actual sales of these homes may not be recorded in Arizona.”