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Effective with FHA case numbers ordered on or after 4/5/2010, the Upfront Mortgage Insurance Premium will be increasing:
Please provide our team with the property address no later than Friday, April 2nd to avoid the increase.
- Purchase Money Mortgages = 2.25%
- Full-Credit Qualifying Refinances = 2.25%
- Streamline Refinances (all types) = 2.25%
- HOPE for Homeowners (Delinquent Mortgagors) = 2.00%
- Home Equity Conversion Mortgages = 2.00%
FHA Property Flipping Waiver
Last week, FHA made changes to its property flipping guidelines. The changes have seemed to cause a bit of confusion and I wanted to clarify the message which was sent out.
FHA has held a 90 day property flipping guideline for sometime now. In June of 2008, FHA issued a 1 year exemption to the property flipping rule on foreclosed properties. The change made last week was only to extend the exemption for another year and add a new exemption for foreclosed properties that have been purchased by state or local governments using funds granted to them through the Neighborhood Stabilization Program (NSP). I have attached the verbiage which was sent out in 2008 as well as the verbiage from last week should you like to read the exact details.
As I mentioned above, FHA has been steadfast on their 90 day property flipping rule for many years. However, they do have certain exceptions to this guideline which are noted below:
- Sales by HUD under its Real Estate Owned
- Sales by other US Government agencies of single family properties pursuant to programs operated by these agencies
- Sales of properties by nonprofits approved to purchase HUD-owned single family properties at a discount with resale restrictions
- Sales of properties that are acquired by the seller through inheritance
- Sales of properties purchased by employers or relocation agencies in connection with relocations of employees
- Sales of properties by state and federally charted financial institutions and Government Sponsored Enterprises
- Sales of properties by local and state government agencies
- Sales of properties within Presidentially declared Disaster Areas
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7027 N. Scottsdale Road #125 Bldg. 7 |
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Scottsdale, AZ 85253 |
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WELL MAINTAINED IN TRAVIATA |
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| Price |
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$289,500 |
| Bedrooms |
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2 |
| Bathrooms |
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2 |
| Square Foot |
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1,233 |
| Lot Size |
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1 |
| County |
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Maricopa |
| Property Type |
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Condo or Townhouse |
| Year Built |
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2004 |
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click for more pictures
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| Property Description |
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Corner Unit with southern exposure, makes this light, bright and in quiet location in the back of the complex. Two bedroom, two bath with tile, carpet,
gas fireplace in L/R and Ceiling fans T/O. Kitchen offers granite tiled countertops, black appliances and has breakfast bar. Refrigerator, W/D all
convey. Master bedroom split and has exit door to patio for your morning coffee. Walk to fitness center, community pool spa. Seville Shopping Center walking distance with restaurants and shopping. McCormick Railroad Park nearby. New Ritz Carlton soon to be built. Seller is ready to move on.
VERY MOTIVATED..
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Equal Housing Opportunity. |
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John Hall & Associates :
9366 E. Raintree Drive -
Scottsdale
AZ
85260
: 480-948-0550
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Call for more info: Rachel Lang at 602-445-6415
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| Price |
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$849,000 |
| Bedrooms |
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4 |
| Bathrooms |
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4 |
| Square Foot |
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3,658 |
| Lot Size |
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15,148 |
| County |
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Maricopa |
| Property Type |
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Detached |
| Year Built |
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1996 |
| MLS Number |
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4031207 |
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more pictures below
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| Property Description |
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Relocation forces sale of this spacious home with city lights and mountain views in North Scottsdale! This immaculate homes features 4BR+Den,4 bath,enclosed loft, 2 fireplaces, family room, formal living dining and gourmet kitchen. Granite counters in kitchen,all bathrooms, laundry room. Brazilian slate and hand-scraped hardwood flooring throughout the first level. Spa-like master bath features vanity with duel sinks, Jacuzzi tub,custom travertine snail shower and flooring. Master bedroom with exit to view deck with amazing views of the McDowell Mountains. Follow the spiral staircase to the large covered flagstone patio and beautiful resort-like yard, featuring a heated play pool, large heated spa, gas fireplace, and a no-maintenance grassy play area.
Listing courtesy of Theresa Crampton with Realty Executives.
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Call for more info: Rachel Lang at 602-445-6415
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| Price |
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$124,900 |
| Bedrooms |
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3 |
| Bathrooms |
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2 |
| Square Foot |
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1,258 |
| Lot Size |
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11,278 |
| Community |
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Willows West |
| County |
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Maricopa |
| Property Type |
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Detached |
| Year Built |
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1979 |
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more pictures below
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| Property Description |
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OPEN HOUSE 9/14 1-4 PM. What would you do with over 11,000 sq ft lot with a home on it? This home has had only 2 owners. This is a great lay out with a great room, fireplace, 3 bedrooms, 2 full baths, 2 car garage, spacious kitchen, new block fence (entire backyard), storage shed, covered patio and all this sits on a corner cud-de-sac lot. Kitchen cabinets look new, the appliances are dated and there is an allowance of $3000 at closing. This is a great chance to get into a home with very little out of pocket costs. There is plenty of room to built a guest house or add on to this home. With no HOA, the possibilities are endless. This home is just a couple miles East of the freeway and just north of Indian School. Are you looking for a great deal? Call Brooke Martin for a private showing 888-720-4999 ext 155. Listing courtesy of Brooke Martin with Exit Realty Dynamics.
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Call for more info: Rachel Lang at 602-445-6415
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| Price |
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$4,000 |
| Bedrooms |
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2 |
| Bathrooms |
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2 |
| Square Foot |
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1,725 |
| County |
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Maricopa |
| Property Type |
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Rental |
| Year Built |
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2007 |
| MLS Number |
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4012600 |
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more pictures below
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| Property Description |
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3-6 month rental in North Scottsdale. Get away in style, golf course front property. Gorgeous luxury loft in the Landmark in N Scottsdale. Spend your winter in luxury. This beautifully decorated unit is also fully wheelchair accessible-even roll in shower and super deep/high kickplates, desk, and so on. Rent includes HOA, water, trash, basic cable, internet access, gym and more. Large laundry rm w/ extra refrigerator, 24 hour guard gate, huge 72' TV, DVD player, beautiful decor, large patio with mtn views, office in unit and business center in lobby, private wine locker in cellar. Pool, spa, BBQ's, wine cellar, concierges desk, walking distance to Kierland-THIS PLACE HAS IT ALL. Travertine flooring and rich stones throughout unit. Call Brooke Martin for a private showing 888-720-4999 ext 155.
Listing courtesy of Brooke Martin with Exit Realty Dynamics.
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Call for more info: Rachel Lang at 602-445-6415
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| Price |
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$3,875,000 |
| Bedrooms |
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5 |
| Bathrooms |
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5.5 |
| Square Foot |
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6,825 |
| Lot Size |
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45,000 |
| County |
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Maricopa |
| Property Type |
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Detached |
| Year Built |
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2007 |
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more pictures below
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| Property Description |
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Immaculate hillside property which over looks one of the few lakes in Desert Mountain sits on over an acre. Spectacular villa was completed in 2007; which features include 5 bedroom, 5.5 bath, 3 car garage, heated lap pool and spa, 7 fireplaces, wine room, gorgeous wood travertine flooring, library with custom bookshelves, stone & granite in all the right places, top of the line appliances. All this and much more in this exclusive gated golf community. The 6825 sq exquisite home has a split floor plan all guest quarters are in-suites. Second level has Media/Theater with custom wood bookcases, wet bar, large screen TV and a spacious viewing deck. Detached gate house offers living room, fireplace and the beautiful bathroom also has double sinks. All the gorgeous tile work gives you the feeling of classic Tuscany. Listing courtesy of Brooke Martin with Exit Realty Dynamics.
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The Briggs Lang Team
Scottsdale,
AZ
More about me…
Cobalt Mortgage
Address: 7333 East Doubletree Ranch Road, Suite D 280, Scottsdale, AZ, 85268
Office Phone: (602) 445-6415
Cell Phone: (602) 790-8420
Email Me
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