My market has seen some drastic changes in the last Few months, Our inventory has drastically deacresed while our demand has increased, this has some buyers confused since they Watch and listen to the news and hear that there is millions of homes been foreclosed and that market is flooded by homes for sale, not here, and I'm just talking about the Central Valley in California and specifically in the Kern county area. My study which was done from September 2010 to September 2011 and was done for the entire City Of Bakersfield with properties priced from $50,000 to $150,000 and reveals that Demand has increased 6% and Inventory has decreased 42%, this has created certain frustration with buyers and Some Real Estate Professionals but this is due to lack of Understanging of what's happening in the market. if you know your market and have the ability to communicate with your buyers they will make better offers and will know that is not you but the Market that is making it difficult to get offers accepted
HUD Home in East Bakersfield. Gated Community. This home features 3-bedrooms, 2-baths and 2-car garage. Per HUD, property is 1608 square feet. Open floor plan. Kitchen has breakfast bar, pantry and tile floor. Separate dining room. Spacious living room. Master bath room has double sinks and soaking tub. Large backyard is ready for your personal touch. Conveniently located close to schools, parks and shopping. Easy freeway access. Priced at $67/square foot. Hurry, this will not last long!
FHA will be waiving their 90-Day Rule for flipping houses, starting February 1,2011 when it was set to expire. The waiver is planned for 1 year.
it means that investors will have the option to buy fix and sell at any time after their purchase, without having to wait 90 days prior to selling to an FHA buyer. According to FHA Rules, there are a few other requirements for these transactions: 1. All transactions must be arms-length, meaning that there must not appear to be any impropriety taking place between buyer and seller. This requirement also indicates that any prior flipping activity on the home in the previous 12 months may be a red flag to the lender. 2. In cases where the sale price exceeds the previous purchase price by more than 20%, the lender will be required to take extra steps to ensure the sale is legitimate. This includes a second appraisal and a full FHA inspection. 3. The waiver only applies to forward mortgages, and not to Home Equity Conversion Mortgages (HECM). The waiver of this rule will most likely have a huge impact on the real estate investing community short term. I'm certainly looking forward to the positive impact it will have on our business. If you are interested on investing or lending money to invest, please contact me, I pay up to 15% interest and you hold the note. Great opportunities.
Licensed Broker and full time Realtor since 1995. Enjoy working with buyers, sellers,asset managers and fellow Realtors
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