short sale, short sale flip
Flipping houses has been a popular pastime for dilletante investors in recent years, but you know what? Those days are long gone. Because of changes in FHA rules, it's not possible now to buy a home and do a short sale flip. Even if you already know how to purchase a short sale home, you can't just go in, buy it, and then do a short sale flip. If the home was purchased with the aid of an FHA home loan, then you have to own the home for several months before you do a short sale. However, that's okay in the current market. You might as well hang onto that short sale property for several years before you try to sell it because that's how long it will take to regain its former value. According to the opinions of knowledgeable experts American homes will not begin to appreciate in value for several more years. But if you can buy some short sale homes or foreclosed homes and hang onto them until 2010, then you'll probably be able to make a profit from the homes that you buy as long as they're in well-maintained, desirable neighborhoods.