Real Estate News – August 7-8, 2011

A property owned by former Major League Baseball pitcher John Smoltz will be going up for auction towards the end of the month due to foreclosure (via

“Foreclosure Factory” Draws Critics (via

Encouraging investors to buy foreclosed homes in bulk would help shrink the U.S. housing surplus, stabilize property prices and provide affordable rentals, Morgan Stanley (MS) housing analysts said in a report today (via

An indictment charging a Weston real estate developer and entrepreneur with defrauding numerous individuals through the use of fraudulent bank documents was unsealed today in federal court (via

Standard & Poor’s lowered credit ratings on debt issued by U.S.-backed lenders including mortgage giants Fannie Mae and Freddie Mac, citing its own Aug. 5 downgrade of the federal government’s AAA status (via