It's a GORGEOUS day here in beautiful Tennessee! A great day for buying real estate in Middle Tennesse and Murfreesboro!
Well...sounds like the government is starting to realize the foreclosure rate is out of control. The latest report that I read stated that it was up 65% this year!!!
The article below is going to help get these homes sold much quicker so they are not just sitting in our market and increasing our days on the market; thus, decreasing the average sales price in our area. The 90-day holding rule is going be reduced in order to get these homes sold.
For those working with investors, make note that one stipulation is that the property must be purchased by "owner-occupants". Remember to keep short sales in mind for your investors. Short sales are a great way to keep homeowners out of foreclosure, reduce the lenders loss, and help investors and buyers get a good home with built-in equity!
http://www.thetruthaboutmortgage.com/fha-to-ease-property-flipping-rule/
Let me know what your thoughts are on this subject by emailing me at tludlam@realtracs.com
If you are moving to the Middle Tennessee area, give me a call!
615-631-6027
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