FANNIE MAE FORECLOSURES MARKET VALUE MAC

The appraiser must indicate the comparables are from a competing neighborhood and address any differences that exist. If this situation arises, the appraiser must not expand the neighborhood boundaries just to encompass the comparables selected. Sale activity from within the neighborhood is the best indicator of value as sales prices of comparable properties from the same location should reflect the same positive and negative location characteristics.ДЇannie Mae does allow for the use of comparable sales that are located in competing neighborhoods, as these may simply be the best comparables available and the most appropriate for the appraiserвЂ™s analysis. Comparables that are significantly different from the subject property may be acceptable however, the appraiser must describe the differences, consider these factors in the market value, and provide an explanation justifying the use of the comparable(s).Д¬omparable sales from within the same neighborhood (including subdivision or project) as the subject property should be used when possible, and must be used in certain instances (see below).

This does not mean that the comparable must be identical to the subject property, but it should be competitive and appeal to the same market participants that would also consider purchasing the subject property. These characteristics include, but are not limited to, site, room count, gross living area, style, and condition. Comparable sales should have similar physical and legal characteristics when compared to the subject property. Fannie Mae expects the appraiser to account for all factors that affect value when completing the analysis. We expect we will see more of this shift in the coming years.The appraiser is responsible for determining which comparables are the best and most appropriate for the assignment. 'We suspect these are the types of changes that the market is pricing in with its 'Trump Rally.' Shifting corporate risk to taxpayers has been a profitable business over the past few decades, and throughout history. 'We predict the increase in these type of government-guaranteed securities will grow exponentially in the coming four years, and the impact on the rental property market will be extraordinary,' added Roalstad. Other corporate landlords will soon jump on this bandwagon, and demand for rental properties will rise,' wrote Andrew Roalstad, senior analyst at TIS Group. 'Blackstone is a market-leader when it comes to securitization innovation. This could also bring more investors into the rental fold, making financing easier, and potentially lowering rents. There is still very short supply of listings, which favors the rental market now, but that will not always be the case. Some have already voiced concern that the deal puts taxpayers on the hook yet again, should the rental market end up in a 'bubble.' Rental demand is high and rents are high currently, but homebuying demand is also strong and home sales have been rising steadily. Fannie Mae is committed to continuously finding better ways to meet the changing needs of families, whether that is through rental options or homeownership.' This transaction helps us gather data and test the market to ensure we are delivering the right solutions that meet the increasing demand for single-family rental housing across all demographics.

'Invitation Homes is a strong partner with deep experience managing a large volume of single-family rental properties. 'This transaction is a great opportunity to continue to serve the growing single-family rental market,' according to a statement from Fannie Mae. This is likely why Fannie Mae is testing this market with the first deal. Following the foreclosure crisis, when investors bought thousands of distressed homes, the single-family rental market grew and now accounts for more than 50 percent of the rental market nationally.

FANNIE MAE FORECLOSURES MARKET VALUE MAC

This first-of-its-kind debt deal is something of a test in what is a growing and maturing single-family rental market.Д«oth Fannie Mae and Freddie Mac have long been big players in the multifamily apartment market. The homes that will go into the Fannie Mae are, according to sources, low risk, with very low loan-to-value ratios. Invitation Homes, in the filing, reported $9.7 billion in property and $7.7 billion in debt. Invitation Homes currently has a portfolio of about 50,000 single family rental homes, most of which it purchased during the foreclosure crisis.

Fannie mae foreclosures market value