Fannie Mae Eases Guidelines for Investors

On February 6, 2009, Fannie Mae released Announcement 09-02, detailing the new rules for real estate investors who own multiple properties.

Fannie Mae previously only allow for four properties loans. Announcement 09-02 allows investor and second home borrowers to qualify for Fannie Mae-backed loans for up to 10 properties. However, investors must meet strict underwriting and delivery requirements outlined in the announcement.

“Fannie Mae is committed to providing financing opportunities for high-credit quality, bona fide investors,” said Fannie,“Experienced investors play a key role in the housing recovery and Fannie Mae’s continued support for investor borrowers is consistent with its mission to provide stability, liquidity and affordability to the nation's housing system.”

This move will open up many opportunities for investors who were ready to jump on the current foreclosure/short sale market but had maxed out on properties.

Marco Island Real Estate Stats - February 2009

Things are starting to heat up again on Marco Island after the island went into a couple of month lull. Pending sales are starting to rise as well as month to month sales growth. One category really shined out. Single family homes sales increased 39+% as compared to last year and an incredible 78% growth from the last month. All in all, we are seeing more buyer activity which will eventually turn into more buying.

For the statistics, go to Marco Island Real Estate Statistics February 2009
For more information about Marco Island Homes for Sale, contact:
Joseph A. Bartos, P.A.
Assist 2 Sell Buyers & Sellers Real Estate
(239) 404-5068
mailto:info@bartosgroup.com
Let us assist you in buying or selling a property in the Marco Island area.