Is fannie mae selling rehabbed properties ?

[Michael Hill]

I purchased my current house as a foreclosure directly from Fannie Mae.  It was listed on their site (homepath.com).  My intention was to house hack it for a few years, get past my divorce and buy a second house to live in more permanently and rent this house out as my first buy and hold investment.

I'm about a year or so away from being ready to make my next purchase and I've been looking on Fannie Mae's website at listings in my area.  What I've found are very few (that's not a surprise as inventory has been a bit scarce here, for foreclosures) and the one's that are listed appear to be move-in ready.  This has not been the norm for my area.

Any idea why that is ?  

To be fair, I haven't plugged in any other zip codes for comparison.  You can look at the few in my zip code to see what I mean, it's 46544.

What do you think ?