HUD temporarily lifts 90 Day Flip Rule

Friday, January 15th, 2010 at 10:05pm. 198 Views, 0 Comments.

BREAKING NEWS from the U.S. Department of Housing and Urban Development (HUD)

For those of you recently searching around for Las Vegas Homes For Sale.. you may have noticed an increase in the number of homes available for sale that are not Short Sales or Bank Owned Homes that are flips.

These properties have been popping up being offered for sale by Cash Rich Investors that have purchased Bank properties at the Trustee Sales or various other means such as bulk deals. Throw some lipstick on them and put them right back up for sale for a nice little profit.

No dealing with a bank for an answer... Great, Right??

Well... Great until you see the 90 day flip rule disclosure and no FHA loan buyers accepted. Great if you are a cash buyer or know of one of the few…

First Time Homebuyers Tax Credit for 2009

Saturday, March 28th, 2009 at 4:19pm. 803 Views, 6 Comments.

First Time Homebuyers Tax Credit for 2009

We've been getting a lot of calls lately with questions pertaining to the new $8,000 first time homebuyers tax credit that was passed in the stimulus bill. It's easy to get confused with all of the information out there comparing it to the 2008 Tax Credit so I'll try to keep it as simple as possible. Let's forget the 2008 Tax credit bill which was really structured as a loan that had to be paid back. I think it's pretty safe to say it was not very successful despite all of the promotion from sales minded entities.

The 2009 first time homebuyers tax credit does not have to be paid back. But of course.... there are requirements.

Keep in mind that I am a Realtor® and not an Accountant or Tax Advisor. All the "What If"…