With Fewer Foreclosed Homes To Buy, Investors Move To Standard Sales

Investors still buying homes

But they still account for more than 1 in 4 visit site home purchases in the region. And just 8% of those deals were on foreclosed homes in June, compared with 25% a year earlier and a peak of 55% in February 2009. “Everybody and their dog is an investor,” said Dick Caley, a Long Beach real estate agent. “It has gotten to the point where I do not even return the call.” As it turned out, housing investors needed neither the prodding of the Federal Reserve nor the bulk foreclosure sales from Fannie Mae, which never materialized beyond the pilot phase.
For the original version including any supplementary images or video, visit http://www.latimes.com/business/la-fi-housing-investors-20130913,0,7250486.story?track=rss

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