Re: FHA's waiver of Anti-Flipping law extended again

FHA requirements for the next year remains 20% above acquisition requires an additional appraisal. According to agents that I've been asking, it's the additional appraisal that gets the deal done. And they are done all day long with less than 90 days seasoning for FHA buyers in my area.

Where I am, most everyone's asking price is more than 20% of acquisition plus improvement costs. Has to be that way because in some price ranges the holding costs, marketing/commissions, loan costs, closing costs plus paying buyer's closing costs would eat up the 20%, leaving no profit.