Fannie Mae Becomes A Landlord Will The Private Sector Follow?

Well it looks like tenants occupying homes lost to foreclosure may have just caught a huge break.   That is if the homes are owned by Fannie Mae.

“In a move that provides relief to thousands of renters who face eviction but draws the federal government even deeper into the housing market, the loan giant Fannie Mae said Sunday that it would sign new leases with renters living in foreclosed properties owned by the company.”

Progress On Project 76

Today after checking out a possible acquisition in Raytown, MO with @mightywaldo I decided to stop by Project 76 and see how things we coming along.  Honestly I was a little surprised to find out that one of our sub crews had been working on this house 6 days a week.

Progress On Dartmouth

Things are comming along very well at 444 Dartmouth a continuation of Progress Brookside.  Keep in mind that this is one of are larger projects of the year.  From the looks of the things this property won’t be ready till the end of Janurary.  None the less progress is being made.

Gas is $1.29 in Kansas City Fingers Crossed For $1 a Gallon

Watching gas prices fall has been one of the most enjoyable experinces of the year for me.  On average I drive about 30,000 miles a year so any time gas prices come down its like I’m getting a raise.  Back on October 29th I wrote a post the same day gas fell below $2.00 a gallon and I jokingly speculated that gas would fall below $1.00. It hasn’t happened yet but my fingers are officially crossed.

Progress On Project River Oaks

After showing a few houses in South Kansas City this evening I drove out to Grandview to see how things were going on Project River Oaks.  I was surprised to find that are sub crews have been working six days a week in order to finish on  schedule.  I promise they are doing this on their own free will.

70th St. Remodel (Project Brookside)

425 W 70th our first house in the Project Brookside series has been completed.  This has been one of my favorite projects to work on and is one of largest projects we’ve done this year.  I was just thinking that it would be a great idea to have the former owner come by and take a look at what we did to his old home.

First Look At 424 Darmouth (Project Brookside)

Project Brookside

Location: 424 Dartmouth (Brookside)

3 Bedrooms / 1.5 Baths / Slab Granite Counters / Large Backyard

Estimated Time of Arrival: Late January Early February

Estimated List Price: $265,000

Foreclosing On A Paying Tenant…Why?

For the life of me I just don’t understand why a bank would rather have a property sit vacant than rent it out to a willing and able tenant.

Take a break and watch this AlJazeera interview with the Dabner family.  It’s only 2:42.

Progress on Project River Oaks

The Craig St remodel is moving along as scheduled.  Today after a few showings in the southern part of the city I drove out to Grandview to take some progress photos.   14500 Craig should be completed at the end of the month and be ready to list in early January.

4408 Grandview (Project South KC)

Project Grandview

Location: 4408 Grandview (Project South KC)

5 Bedrooms / 4 Baths / Two Fireplaces / Two Kitchens

Estimated Time of Arrival: February

Estimated List Price: $175,000

The very second I saw this property I knew it would make an incredible home.  Unlike so many of the properites Vizion does its wasnt hard to see this one’s potential.  Of all the homes coming up the early part of next year this is one of my favorites.  But lets not get carried away just yet this house still needs some serious work.  I’m estimating the remodel will take 4 to 5 weeks but once its completed this will be one of the nicest homes in the neighborhood.  Among several other features the circle drive, 5 bedrooms, 4 bathrooms, 2 kitchens and 2 fireplaces are sure to be applealing to large familes.  In addition this home is also located about 5 minutes away from IHOP and Highway 71.  Vizion hasn’t done a large home like this since the 7 bedroom house in Grandview.  I will keep everyone posted on its progress.

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