FHA to reinstate anti-flipping rule

Starting Jan. 1., 2015 FHA will no longer provide loans to investors who flip a home in less than 90 days and will not finance loans to buyers who buy a flip that has been owned by the seller for less than 90 days.

Comments

Post a Comment

Popular posts from this blog

Historical Average and Median Prices for Detached Homes in Fremont

Image
A request from a client to run a historical chart of the average and median prices for detached homes in Fremont last year has opened a lot of conversations.  This is the first time since BayEast MLS started recording sales data in 1997 that Fremont's average detached home (aka: single family homes) sale has officially reached the $1M mark.  As always, I don't have a crystal ball, I'm not a lawyer or accountant, so I can't interpret this chart for you.  This chart has NOT been adjusted for inflation, this is just the raw sales average and median prices.
Read more

San Leandro Rent Control Update

In a surprise move on Dec. 7, 2015, the San Leandro City Council voted to expand their current Rent Review ordinance to apply to single family homes and condominiums. A final decision was scheduled for  Dec. 21 , but after testimony from tenant advocates and property owners, the council ultimately decided to delay taking action. TODAY, the council will make a final decision on the expanded ordinance. If single family homes and condos are included it could place a burden on property owners, unintentionally cause rents to increase and inspire other communities to consider rent control ordinances. While city staff are recommending to keep single family homes and condos out of the ordinance we anticipate tenant advocates and at least two city council members will work to have the ordinance cover all residential units.   If you manage rental property in San Leandro, particularly single family homes or condos, please attend the city council meeting TODAY!
Read more