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Jacksonville Part of Bulk Foreclosure Home Pilot

4:17 PM, Mar 2, 2012   |    comments
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JACKSONVILLE, Fla. -- Jacksonville is included in a pilot program by the Federal Housing Finance Agency that targets bulk purchases of foreclosed homes.

Across the country 2,500 homes are for sale under the pilot program that's intended to attract investors to buy multiple properties. 

On the First Coast and Central Florida nearly 200 properties are being offered as part of the pilot.

"Anything you can do to get these vacant homes occupied with descent good quality housing is a good thing," said Roger Perkins a Fleming Island realtor and property manager.

Perkins says on downside there  could be some impact on rents and housing values. 

One condition of purchase is that the homes be placed in the rental market to create more affordable housing.

"This is another important milestone in our initiative designed to reduce taxpayer losses, stabilize neighborhoods and home values," said FHFA Acting Director Edward DeMarco.

Besides the First Coast and Central Florida other cities include Atlanta, Chicago, Las Vegas, Los Angeles and Phoenix.



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