So Fannie and Freddie were taken over by the government yesterday.  You’d think this would be done because the government thought they could run things better than the existing management.  It sounded like that because, among other reasons, mistakes had been made: There were reports that auditors called in by Treasury and FHFA had found accounting irregularities at the two firms and that their capital base was smaller than expected. At first, Paulson had talked in terms of an equity investment in the two firms. But after the review, a full-scale takeover of the two firms was seen as the…
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  It’s Monday, Fannie and Freddie have both been rebranded as "Feddie" and housing is going to the dogs, I mean cats: [Thanks M!] Cats on a bank-owned roof: Bobcats claim foreclosed house The foreclosure market is getting wild in Lake Elsinore: "Taking advantage of a slump in local real estate, a family of bobcats has moved into a foreclosed Lake Elsinore home, lolling about on fences and walls and riveting an entire neighborhood." Neighbors first noticed the feline squatters Aug. 27 hanging out on a side wall of the empty house in the Tuscany Hills development…. The foreclosed home…
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In my ramblings around the web I ran across this "Phoenix Foreclosure Flip Case Study".  The agent who posted it said: This is a case study of some of the real estate investment opportunities in the Phoenix Metro Area. This home was purchased in Gilbert Arizona in foreclosure and was fixed up and flipped for a profit.   I was curious and decided to see if I could figure out what kind of profit the agent’s investor made. I discovered this video- obviously the same property, which gives the address and list price- 2530 E. Jasper Drive in Gilbert listed…
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