Are you using Zillow to find a house to buy or to find out how much your home maybe worth? If you are just make sure you are careful most the time the data is old and sometimes even downright inaccurate! Take a look at this article from Housing Wire to see how Zillow grossly missed on the estimated value of this mobile home in California!
The good news is it comes with a potted tree in the bath tub, the bad news if you made an offer based on the Zillow estimate, it would be almost 3X too high!
Just remember it’s a great idea to start your real estate search out online but when you get serious about wanting to buy make sure you find an experienced licensed Real Estate agent. The iVest Team is an experienced group of licensed Real Estate Agents in the Central Florida market for both Commercial and Residential sales.
“With certain exceptions, FHA rules prohibit insuring a mortgage on a home owned by the seller for less than 90 days. In 2010, however, FHA temporarily waived this regulation through Jan. 31, 2011, and later extended that waiver through the remainder of 2011. The new extension will permit buyers to continue to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties or properties resold through private sales. It will allow homes to resell as quickly as possible.”
“FHA justified the extension by noting that professional flipping often takes less than 90 days, and making an investor wait deters buyers who must consider holding costs and the risk of vandalism associated with allowing a property to sit vacant for about three months.”
Meridian Capital Holdings is a supporter of this waiver and believes it should be permanently waived. If in the worst housing environment in many decades the FHA is relying on”flippers” to help mend the housing market, how come during normals times we can’t be relied on to improve property values as well?
Meridian Capital Holdings has added a new feature to it’s website, you can now search the Central Florida MLS! The MLS portal isn’t great (it’s a work in progress) but more importantly it works. Just follow this link or click on the Search Central Florida MLS on the menu bar at www.MeridianCapitalHoldings.com!
Both Ryan Courech and Howard Axner are licensed real estate agents with Winter Park Land and are experts at navigating the Central Florida Real Estate market.