Freddie Mac's real estate owned (REO) homes sell for an average of 94% of market value, according to a blog written by Tracy Hagen Mooney, Freddie Mac's senior vice president of single-family servicing and REO.
‘Because our homes are well maintained and priced right for the local market and homebuyers, most of our homes sell close to full estimated market value,’ she wrote in a blog outlining four "little-known facts" about Freddie Mac REOs.
According to the blog, Freddie Mac sells more than 70% of its REOs to owner-occupants. Hagen Mooney wrote that the company is always open to investor buyers, but that its strategy is to "limit the concentration of investor sales in any one area."
She additionally noted that Freddie Mac REOs are maintained at move-in condition and that sales are outpacing acquisitions. Freddie Mac sold more than 80,000 REOs through the first nine months of the year. According to Hagen Mooney, the company's sales strategies and broker network enables Freddie Mac to sell its REOs within 120 days, on average.