INVESTOR ALERT!! HUD has announced today that the 90-day house flipping restrictions have been lifted as of February 1st, 2010. For my friends who are really into multiple streams of income and like to get their hands dirty fixing up those Fixer Uppers....this announcement is for you! "Flipping" homes has now just become easier...at least for the coming year. This will certainly be a positive effect on our market.
Here are some things that are rules applying to this new HUD flipping houses rules::
- Buyer and seller may not be family members.
- Seller may not increase the sales price by more than 20% and if that happens..the house must be appraised to deduce what improvements have been made.
- If improvements have been made, an inspection must be done and results given to the new buyer.
Do you like ripping up carpet, fixing a few holes, painting, maybe putting in countertops or new tile in a bathroom?? Is HOME DEPOT one of your favorite Saturday trips?? Check out this this great link about how to flip houses:
E-HOW TO DO JUST ABOUT ANYTHING -NEWBIES GUIDE TO FLIPPING HOUSES
This E-HOW link has other links that you can use to educate yourself on flipping houses!
Jill Watts -
If you need help buying or selling a property, I hope you'll allow me
the honor to interview to be your realtor!
Are you Selling, Buying or Building a home in one of the great livable cities that make up Clark County? (Battle Ground, Camas, LaCenter, Vancouver, Ridgefield, Washougal, Yacolt) Buying? I am a Keller Williams Real Estate professional working for you with my team of professionals to make your sale smooth...contract to closing table! I have blazing hot property deals from the RMLS (including all listings from all companies, even ReMax, Century 21, Prudential, Windermere, etc.) right at my fingertips and can provide them to you before the sign even goes into the yard. Selling? The RMLS and Keller Williams up-to-the-minute technology will give you all the research tools you need to make your contract property sale negotiations razor sharp and your property buying or selling decisions precise and save your money! (I am also connected to our new Keller Williams Commercial group, so give me a call today to get hooked up with a dynamic possibility for your investment future. No really! Call me!! 360-852-1689 to get started on your next life transition today)