BiggerPockets

I guess they take the cue from HUD which has ten days owner /occupied policy. Here my take. Most home-buyers don't have much imagination (Sorry home buyers...) and cannot see the potential. Most of those people are looking for "ready to live in" homes. Aside from that, if they are not qualified for FHA loan, they won't be looking into homes that are less than $40-50K because no lender of a conventional would lend less than that.
Also, in many place in the country November to February are the slowest period for home buyers in most part of the country. (winter, school year, etc)
I think that the crazy period of the summer combined with the incentives is dieing down.

Originally posted by Anson Young

This is pretty standard, 15 days on market before investor offers can be seen, and the deed restriction.

90 day deed restriction has been around for several years, but apparently, the 15 day period just went into effect last month:

http://www.realcomp.com/Features/fmfirstlook

Thanks for the responses, guys!

Do you know anyone this has happened to?

I have a friend who had a contract to purchase a home from Fannie Mae. She made a down payment and was set to own the house. Unfortunately, Fannie Mae decided to cancel the contract at the very last moment and they KEPT HER MONEY. I reviewed her contract and found that she had not violated a single aspect of the contract, though the Fannie represenative claimed she had violated one of the terms.

Obviously, Fannie Mae turned around and sold the house to another person. I think they probably got a better offer and took it instead of honoring the terms of their original deal.

It's too bad that they would operate like this given all the negative publicity they've gotten lately.

I don't think my friend is the only one who has gone through this and been duped by an agency they thought they could trust.

There is a website was set-up: http://fanniekeptmycash.wordpress.com/ , if you know anyone with a similar story send them there.