some call it no more flipping?
I have a question Are we meaning that this applies to FHA and HUD and NOT conventional financing?
The reason I'm asking is that I bought a T/H in Oct 2002 for $118K Just after that time, the market took of and these identical units are flying out the door at $150K
I'm concerned about the"seasoning" that I've been hearing about on this site
I have it on the market to re sell Am I going to run into problems with buyers unable to finance?
As a real estate appraiser I have seen a trend that banks are requesting more and more, the sales history on properties here in Kentucky. I do not think that it will make a huge difference unless the real estate market takes a down turn. The reason is this, housing in this area has jumped 25% or better for middle to upper middle income. The banks are questioning the increase but as long as they can make the loan at the interest rates that are at an all time low, they will do it. If the market takes a down turn seasoning might be a factor.
Sorry I forgot, this applies to FHA and HUD they are the ones that got this thing started.