HOUSING: Feds suspend anti-flipping rule

[outtamojo]

“When I went to Andalucia at 9:45 for a visit to look at the models and the place is friggin PACKED with engineers I bet you couldn’t find a single flipper there. Do you think people are swarming la costa valley right now are all flipping? Are PQ homes that are getting swarmed on being flipped? ”

Wow, and it’s only the middle of Jan.

[Nor-LA-SD-guy]

[quote=outtamojo]”When I went to Andalucia at 9:45 for a visit to look at the models and the place is friggin PACKED with engineers I bet you couldn’t find a single flipper there. Do you think people are swarming la costa valley right now are all flipping? Are PQ homes that are getting swarmed on being flipped? ”

Wow, and it’s only the middle of Jan.[/quote]

I went to the QCOM Website , was just curious to see what was out there as far as openings,

Sure seems they are in a hiring mood, lots of openings but I could be wrong as I had not visited the site before, maybe it’s always like that I don’t know.

[Nor-LA-SD-guy]

[quote=outtamojo]”When I went to Andalucia at 9:45 for a visit to look at the models and the place is friggin PACKED with engineers I bet you couldn’t find a single flipper there. Do you think people are swarming la costa valley right now are all flipping? Are PQ homes that are getting swarmed on being flipped? ”

Wow, and it’s only the middle of Jan.[/quote]

I went to the QCOM Website , was just curious to see what was out there as far as openings,

Sure seems they are in a hiring mood, lots of openings but I could be wrong as I had not visited the site before, maybe it’s always like that I don’t know.

[Nor-LA-SD-guy]

[quote=outtamojo]”When I went to Andalucia at 9:45 for a visit to look at the models and the place is friggin PACKED with engineers I bet you couldn’t find a single flipper there. Do you think people are swarming la costa valley right now are all flipping? Are PQ homes that are getting swarmed on being flipped? ”

Wow, and it’s only the middle of Jan.[/quote]

I went to the QCOM Website , was just curious to see what was out there as far as openings,

Sure seems they are in a hiring mood, lots of openings but I could be wrong as I had not visited the site before, maybe it’s always like that I don’t know.

[Nor-LA-SD-guy]

[quote=outtamojo]”When I went to Andalucia at 9:45 for a visit to look at the models and the place is friggin PACKED with engineers I bet you couldn’t find a single flipper there. Do you think people are swarming la costa valley right now are all flipping? Are PQ homes that are getting swarmed on being flipped? ”

Wow, and it’s only the middle of Jan.[/quote]

I went to the QCOM Website , was just curious to see what was out there as far as openings,

Sure seems they are in a hiring mood, lots of openings but I could be wrong as I had not visited the site before, maybe it’s always like that I don’t know.

[Nor-LA-SD-guy]

[quote=outtamojo]”When I went to Andalucia at 9:45 for a visit to look at the models and the place is friggin PACKED with engineers I bet you couldn’t find a single flipper there. Do you think people are swarming la costa valley right now are all flipping? Are PQ homes that are getting swarmed on being flipped? ”

Wow, and it’s only the middle of Jan.[/quote]

I went to the QCOM Website , was just curious to see what was out there as far as openings,

Sure seems they are in a hiring mood, lots of openings but I could be wrong as I had not visited the site before, maybe it’s always like that I don’t know.

[patientrenter]

[quote=garysears]…
I want to pay the prices the flippers are paying but I can’t due to unlevel playing field and preference for cash deals over financed deals.[/quote]

Garysears, I agree with everything you said. You made another excellent post. I would only move the emphasis a little bit to say that the FHA standards are ridiculously loose, and the resulting excess money being paid under FHA loans is a big part of the problem, and one that should be fixed by implementing a minimum 20% downpayment for FHA loans.

[patientrenter]

[quote=garysears]…
I want to pay the prices the flippers are paying but I can’t due to unlevel playing field and preference for cash deals over financed deals.[/quote]

Garysears, I agree with everything you said. You made another excellent post. I would only move the emphasis a little bit to say that the FHA standards are ridiculously loose, and the resulting excess money being paid under FHA loans is a big part of the problem, and one that should be fixed by implementing a minimum 20% downpayment for FHA loans.

[patientrenter]

[quote=garysears]…
I want to pay the prices the flippers are paying but I can’t due to unlevel playing field and preference for cash deals over financed deals.[/quote]

Garysears, I agree with everything you said. You made another excellent post. I would only move the emphasis a little bit to say that the FHA standards are ridiculously loose, and the resulting excess money being paid under FHA loans is a big part of the problem, and one that should be fixed by implementing a minimum 20% downpayment for FHA loans.

[patientrenter]

[quote=garysears]…
I want to pay the prices the flippers are paying but I can’t due to unlevel playing field and preference for cash deals over financed deals.[/quote]

Garysears, I agree with everything you said. You made another excellent post. I would only move the emphasis a little bit to say that the FHA standards are ridiculously loose, and the resulting excess money being paid under FHA loans is a big part of the problem, and one that should be fixed by implementing a minimum 20% downpayment for FHA loans.

[patientrenter]

[quote=garysears]…
I want to pay the prices the flippers are paying but I can’t due to unlevel playing field and preference for cash deals over financed deals.[/quote]

Garysears, I agree with everything you said. You made another excellent post. I would only move the emphasis a little bit to say that the FHA standards are ridiculously loose, and the resulting excess money being paid under FHA loans is a big part of the problem, and one that should be fixed by implementing a minimum 20% downpayment for FHA loans.

[garysears]

I agree patientrenter. FHA standards are too loose with regard to down payment. In the recent shadow inventory article I commented that the flipping market wouldn’t exist without the FHA. FHA buyers ARE the market at the low end. FHA standards are why low end prices have exploded this past year. I think many of the houses bought last year with FHA backing will be foreclosed, as I am expecting low end prices to trend downward again.

I’ve been wrong before. The key for prices is in how the delinquent loans are handled. Either money is handed out to big money vultures under the table via discounted off market bulk sales, or prices are allowed to come down for normal buyers by putting the inventory on the open market.

I just can’t reconcile price strength with loan distress. It seems like nothing is better than 2 years ago, and maybe things are worse. Getting tired of waiting for it to play out though…

[garysears]

I agree patientrenter. FHA standards are too loose with regard to down payment. In the recent shadow inventory article I commented that the flipping market wouldn’t exist without the FHA. FHA buyers ARE the market at the low end. FHA standards are why low end prices have exploded this past year. I think many of the houses bought last year with FHA backing will be foreclosed, as I am expecting low end prices to trend downward again.

I’ve been wrong before. The key for prices is in how the delinquent loans are handled. Either money is handed out to big money vultures under the table via discounted off market bulk sales, or prices are allowed to come down for normal buyers by putting the inventory on the open market.

I just can’t reconcile price strength with loan distress. It seems like nothing is better than 2 years ago, and maybe things are worse. Getting tired of waiting for it to play out though…

[garysears]

I agree patientrenter. FHA standards are too loose with regard to down payment. In the recent shadow inventory article I commented that the flipping market wouldn’t exist without the FHA. FHA buyers ARE the market at the low end. FHA standards are why low end prices have exploded this past year. I think many of the houses bought last year with FHA backing will be foreclosed, as I am expecting low end prices to trend downward again.

I’ve been wrong before. The key for prices is in how the delinquent loans are handled. Either money is handed out to big money vultures under the table via discounted off market bulk sales, or prices are allowed to come down for normal buyers by putting the inventory on the open market.

I just can’t reconcile price strength with loan distress. It seems like nothing is better than 2 years ago, and maybe things are worse. Getting tired of waiting for it to play out though…

[garysears]

I agree patientrenter. FHA standards are too loose with regard to down payment. In the recent shadow inventory article I commented that the flipping market wouldn’t exist without the FHA. FHA buyers ARE the market at the low end. FHA standards are why low end prices have exploded this past year. I think many of the houses bought last year with FHA backing will be foreclosed, as I am expecting low end prices to trend downward again.

I’ve been wrong before. The key for prices is in how the delinquent loans are handled. Either money is handed out to big money vultures under the table via discounted off market bulk sales, or prices are allowed to come down for normal buyers by putting the inventory on the open market.

I just can’t reconcile price strength with loan distress. It seems like nothing is better than 2 years ago, and maybe things are worse. Getting tired of waiting for it to play out though…

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