FHA Extends Temporary Waiver of Anti-Flipping Rule: Investors Still Strong in San Antonio, Texas

By
Real Estate Broker Owner with www.GreenHomeRealty.com 0548772

Flipped House PhotoInman news reported today that the "Federal Housing Administration is extending a temporary waiver of its "anti-flipping" rule, meaning home buyers relying on FHA-insured financing will continue to be able to buy homes that have changed hands in the last 90 days." which is a continuation of the 2011 ruling by the Obama administration to approve the waived the waiting period.   

For investors and home buyers alike, this is great news since the 90 day waiting period puts a serious damper on investor's ability to use high interest bearing hard money loans, which is the primary source of funds for real estate investors. 

Having worked with investors in San Antonio, Texas, Cathy Bureau says "It's important that investors know that they can purchase homes and perform the necessary upgrades and improvements to meet FHA loan requirements that normally are not met when the properties are distressed and that the FHA recognizes that Investors are in integral aspect of the national housing market. One of the primary reasons distressed properties take a hit in the market is that FHA prevents "uninhabitable" conditions - which amazingly can be as simple as an incomplete plumbing project or minor structural repair.  Without the investor market coming to the rescue, homes could sit on the market indefinitely making the housing recovery last longer than necessary.  As a final note on the benefits of the investor component, this waiver allows innovative investors to "green up" a home by updating windows, using low VOC paints, recycled products, and energy saving insulation updates." 

Currently investors in San Antonio, Texas find this to be a great market to invest into because of the transitional community generated by five military installations:  Brooks City Base, Camp Bullis, Fort Sam Houston, Lackland AFB, and Randolph AFB.  Another contributing factor to housing demand is the strong medical community. Although San Antonio, Texas' fame is attributed to the Alamo which presents a strong travel and tourism market, it also has a strong medical research community noted by the San Antonio Military Medical Center (formerly Brooks Army Medical Center and Wilford Hall) which replaced the 102 reign of Walter Reed Hospital in as well as numerous biomedical and pharmaceutical research corporations. 

For more information about San Antonio employment opportunities read 230+ Reasons to Move to San Antonio, Texas.

For more information about finding homes in San Antonio, Texas contact Cathy Bureau (210) 560-1891.

 

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Rainmaker
358,386
Cathy Bureau
Your Personal Real Estate Concierge
www.GreenHomeRealty.com

Lynda - Basically the buyer can buy a home that has been flipped without waiting the traditinal 90 day waiting period, period.  Consult you lender for deatails since every state has their own underwriting criteria.  Thanks for stopping by.

December 29, 2011 09:21 AM
Rainmaker
358,386
Cathy Bureau
Your Personal Real Estate Concierge
www.GreenHomeRealty.com

Hey Scott and Jerry . thanks!!! I missed you guys too.  Thanks for your loyalty.

Lisa - I missed you.  I'll be running around dropping many blog comments this afternoon. 

Linda and Peter - Thanks for stopping by today.

Joan - Yes we need those property virgins.  Thanks for stopping by.

December 29, 2011 09:34 AM
Ambassador
653,418
Debb Janes
Realtor, Camas, Washington EcoBroker
The Carl Group, LLC

Welcome back Cathy - hope you had a wonderful time and your tamale dinner looked festive and fabulous. Thanks for sharing great (and so helpful) information - you rock. :)

December 29, 2011 10:40 AM
Anonymous #11
Anonymous
Anonymous

Cathy, darling!  EXCELLENT post.  LOVE the writing style.  So smart!

December 29, 2011 12:12 PM
Rainmaker
557,279
Yolanda Cordova-Gilbert
David Weekley Homes in Cinco Ranch
David Weekley Homes

Cathy,

             Interesting post! I agree investors are an integral part of this market and am glad the government is recognizing the fact.

December 29, 2011 02:41 PM
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Rainmaker
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