Whether you’re a real estate developer or own one or multiple properties for your own business use, the single predominant factor in generating a swift building sale is based on aesthetics. First impressions count and that goes for the look of the property and exterior. If a building is in great shape and well maintained, this obviously brings potential buyers flocking. But if the landscaping is a sight for sore eyes, not only could this deter buyers but the few stragglers still interested need to account that the land will require an overhaul. And that costs cash so the...Read More
Fannie, Freddie Rules Hurt Housing Market Special to Roll Call Oct. 17, 2011, 7:26 p.m. Since the bruising August debate on raising the debt ceiling, federal lawmakers have pivoted to the topic of job creation. As we enter another election year, it’s unlikely they’ll pivot back. But so far, politicians’ laser focus on jobs has largely ignored one simple fix that would boost employment and help small businesses and distressed communities. The fix? Removing the onerous restrictions Fannie Mae and Freddie Mac have placed on the private purchase of their toxic housing inventories. For decades, private buyers were able to resell properties they’d purchased from Fannie and Freddie at their discretion. This past year, the two housing giants added a contractual addendum dictating what private real estate investors may do after a house has been purchased, including the time frame under and price at which it may be resold. Fannie and Freddie have told U.S. banks that they must do the same. It’s unclear whether these two sought the approval of the Federal Housing Finance Agency, their overseer since going bankrupt, or Congress, the democratically elected institution with the power to write housing policy, before making this change. The restrictions contribute to a continuingly weak housing market by keeping private real estate investors – small-business owners who buy and sell properties for a living – out of the...Read More
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