90 Day Flipping Rule Suspended For One Year!

Great news for investors!  Admitting that it is in fact possible to buy, rehab, and sell a property in less than 90 days, the Federal Housing Administration (FHA) has suspended it's infamous 90 day seasoning requirement!  This is also great news for home buyers, as this suspension should effectively allow quite a few more houses onto the market that otherwise would be just "seasoning" (aka sitting) on the market for 90 days.  Before we get into this too deep, lets first get an idea of what this seasoning requirement originally entailed.  Basically, since 2003, the FHA has required that a house is "seasoned" on the market for 90 days before it is allowed to be resold.  This means that an investor or any other person who purchased a property had to wait for approximately 3 months before they were allowed to sell the house to an FHA insured buyer.  More than anything, this was done to prevent people from buying a house and immediately selling it at an inflated price to a naive or uninformed buyer.  Luckily, over the past several years, most of the riff raff has been weeded out of ...