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

By
Real Estate Broker/Owner with Criado Realty 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.

 

Posted by
Cathy Criado President & Founder
MBA, REALTOR, BROKER, NAR GREEN, EcoBroker
Published Author
Your Real Estate Consultant!
 
999 E Basse Rd. #180-425, ​San Antonio, TX  78209​
​Direct:  (210) 560-1891
 
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Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Cathy. Welcome Back from vacation! That is some great news about the wavier on the Anti-Flipping Rule for both buyers and investors.

Dec 28, 2011 02:16 PM
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker Associate ,CRS,GRI,SRES, Brea,CA, Orange Co

Hi Cathy,

Quick ? for you, although the 90 day flip rule has been extened, do the prior per centage of improvements vs. sales price still apply?

Dec 28, 2011 02:17 PM
Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986.
eXp Realty, Victoria BC www.pfanntastic.com - Victoria, BC
Talk To or Text Peter 250-213-9490

Hi Cathy,

Good for you to provide this good news report to your clients, that is sure to make a big differeence to many buyers and inverstors

Dec 28, 2011 02:21 PM
Lisa Dunham
Alexandria, VA
Associate Broker, Alexandria Virginia Real Estate

I heard about this Cathy!  Thanks for taking a moment to blog about it so that consumers will be informed as well.  

Dec 28, 2011 02:31 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Cathy, glad to see this, as I have not heard it!    It is good that it will be continued, we NEED those properties for our first time home buyers, so the chain moves up!

Dec 28, 2011 03:05 PM
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

They need to just throw that ridiculous rule out the window once and for all if you ask me! Have a happy, fun and very safe New Year oh y prospero tambien! Abrazos:)

Dec 28, 2011 10:00 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Cathy WELCOME BACK... we missed you... I hope you had a great break. This information is VERY important as I have a closing held up as they intrpret the rules. Many of my sales are affected as cash investors buy homes that need so much work that no one can get a mortgage on them, they clean them fix them and put back on teh market usually still under market value for a repaired home. Buyers love these homes as they need nothing. Thanks for the update and Have a great Thursday

Dec 29, 2011 01:00 AM
Cathy Criado
Criado Realty - San Antonio, TX
Making Real Estate Profitable

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.

Dec 29, 2011 01:21 AM
Cathy Criado
Criado Realty - San Antonio, TX
Making Real Estate Profitable

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.

Dec 29, 2011 01:34 AM
Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

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. :)

Dec 29, 2011 02:40 AM
Former Agent
None - Adak, AK

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

Dec 29, 2011 04:12 AM
Yolanda Cordova-Gilbert
Richmond, TX

Cathy,

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

Dec 29, 2011 06:41 AM