Coldwell Banker Premier Realty: Investors, The Flip Rule And Fha Buyers

Coldwell Banker Premier Realty

After years of success in the Las Vegas real estate arena, Bob and Molly Hamrick established reputations as top producers and solid leaders. In March 1998, the Hamrick's acquired Coldwell Banker Premier Realty (CBPR) and it came as no surprise when that pattern of success continued.

CBPR specializes in residential real estate and offers customers the finest in service and satisfaction. The company has three offices in Southern Nevada (Summerlin, Henderson and Centennial Hills) and presently employs 300 agents. CBPR is also associated with Previews International®, the number one seller of luxury homes in the world. When you buy or sell real estate using CBPR, you will receive the satisfaction of working with a company whose clients rate them with a 96% rating for customer service.

Under the direction of the Hamrick's, the gross commission income of CBPR/Las Vegas has increased from 7.9 million in 1997 to more than 30 million in 2006. Staying on top of what the U.S. Census Bureau calls the "fastest growing and changing residential market in the nation" has been the name of the game for CBPR. In addition, the company's three Southern Nevada offices have carved out regular spots (including top 10 appearances) on Coldwell Banker's top 100 producing offices list, one that encompasses 2,682 offices nationwide.

Wednesday, January 20, 2010

Investors, The Flip Rule And Fha Buyers

Investors, The Flip Rule And Fha Buyers: "Investors, the flip rule and FHA buyers
Posted: January 20, 2010 at 11:37 AM by John McClelland

House flipping was made popular by some cable tv shows during the boom and its occurring very often today too. But many buyers are also aware of the flip rule for FHA, where the resale of homes to FHA buyers could not occur until after 90 days. The rule was initially meant to prevent fraud, similar to what Tony Soprano did in the third season of the Sopranos. However, the rule made many of the “flipped” homes nearly unobtainable for a lot of buyers. A rule reversal is scheduled for February 1st. This should help a lot of buyers compete for some of these flipped homes.

House flipping can really be a socially beneficial exercise. While the process became the Gordon Gekko of boom years and from those cable tv shows, the players today are using their own money to purchase these homes and hire their own crews to rehab them. Many lenders would not finance a purchase of these homes so these individuals are the conduit from the courthouse steps to the end user and there is value added along the way.

Below is a chart depicting the type of financing sold for the primary financing types. You can see that cash and conventional together make up a lot of competition for FHA buyers. Nevertheless, a lot of FHA deals are getting done.

Source: Mlxchange

Coldwell Banker Premier Realty