Finally some GOOD NEWS!

Finally, some good news out of the financing world. HUD is temporarily lifting it's 90-day anti-flipping rule. What does this mean in plain English? If you are a buyer using FHA finanincing, you can now consider properties that have been purchased by an investor, fixed up and put back on the market in less than 90 days. If you are an investor with a property ready to go in less than 90 days, your buyer pool just expanded enormously. Why is this good news? First, we have seen a huge shift to FHA financing in the last 18 months so this opens the doors for buyers and sellers with regards to fipped properties. Second, we have a lot of houses that any kind of traditional financing won't work because of their condition. My opinion is that alot more investors will be willing to get into the game if they know they don't have to carry the property for so long. There are rules that apply but ultimately this is great news!