House flipping is back in Hesperia CA

IT’S BACK....Yes, just about four years after the crash of the Hesperia real estate housing bubble, investors are back flipping homes.  With substantially more risk than investors experienced a few years back some investors have found a niche that seems to be working for them and also providing some buyers with move in condition homes unlike the typical foreclosure property that could take thousands of dollars to make habitable.

One of the major stumbling blocks for investors had been the HUD 90 day flip rule that now has been suspended for a year with the hopes of clearing more foreclosures faster.  With the vast majority of buyers in Hesperia using FHA to finance there purchase flip rule was a major deterrent to many investors.  Now with the rule suspended for a least a year maybe we will see more activity in this area, a good thing for home buyers with limited funds.

Read this Wall Street Journal article about House Flipping

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