Nope, didn’t get the house

And the situation gets worse!  We saw another pretty cool house (though more expensive and not as expansive) alas, it's a "flipper" so no one will loan on it.  Can you imagine?

I feel like waiting until school starts to see if the madness dies down.

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3 thoughts on “Nope, didn’t get the house

  1. A real estate agent bought the house in June and put it back on the market in July. He did some minor clean-up—carpet, paint, granite countertops, and has it up for sale $110K over what he bought it for. Since he's owned it for less than 90 days, FHA (and apparently all other lenders) won't guarantee a loan for it because stringent "anti-flipping" laws were passed recently due to the subprime meltdown. I don't see how sitting on the market 90 days makes any difference in terms of the quality of the house, but maybe it insures better against unscrupulous investors?

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