Starting September 2010, this program gave owner-occupied buyers 15 days to buy homes before investors can get into the offer process. Last year I was seeing investors with all cash swooping in on prime real estate and winning the contract while interested first time buyers were unable to get a toe-hold in the home buying process.
I think this program will let the number of owner occupied buyers rise up again.
I commend Freddie Mac for taking this sane initiative. We need more sanity in the real estate arena. Click here to get the press release – http://www.freddiemac.com/news/archives/servicing/2010/20100915_firstlook.html
Care to comment?
Pat Chadwell, Broker
Realty World – Residential Specialists