The U.S. Department of Housing and Urban Development has tightened regulations that will effect Denver fix n flippers and actually investors who practice "flipping" in any area.
New rules require the owner must own the property at least 90 days prior to being able to resell it with an FHA loan.
The rule goes into effect July 9, 2006.
As always there are a few exceptions: HUD itself, Fannie Mae, Freddie Mac, lenders selling real estate owned properties (REOs), local or state housing agencies, nonprofits with HUD permission to purchase discounted real estate-owned properties, inherited properties and dwelling located in presidentially declared disaster areas.
Hi, I'm Kristal Kraft, the resident blogger here, posting real estate and Metro Denver area information since 2003! You will find me writing about things I feel are important in the home buying process. When it comes to buying and selling homes, there's so much to know. I enjoy providing that information to my clients so they can make decisions based on knowledge and actual fact. You'll find I'm more of a teacher than a salesperson.
My services include: residential property sales, purchases, 1031 Exchanges, new home purchases, REO, foreclosures, short sales.
So if you are in the market to buy or sell Denver real estate, tap into my knowledge, just call me. I welcome your call!