Cracked Drain Line Found on Boise Home Inspection

On a home inspection in Boise Idaho a crack in the cast iron drain line was found leaking onto the basement floor. This could lead to costly repairs, better to have the home seller pay for them and not you!!

HUD Relaxes Rule for Home Flippers

With the passage of a new policy in February of this year, the U.S. Department of housing and Urban Development (HUD) will now insure a home that has been owned by the seller for less than 90 days. This relaxation of the previous rule formerly prohibited insuring a home owned by the seller less than 90 days is aimed at providing investors new opportunities to put foreclosed homes back on the market. Investors or “flippers”, can take possession of a home, make necessary repairs and put the property up for sale in less than 90 days. Hopefully investors are seeking to entice first time home buyers to purchase some of the inventory of unsold homes.

Tightened credit markets have severely limited financign option for potential homebuyers, and FHA loans have become a primary means of financing for many buyers. But investors have been hesitant to purchase and hold homes for the 90 day waiting period, because of costs associated with carrying a loan, as well as the risk of vandalism with a vacant property.

The policy will be revisited by HUD after the twelve-month trial period. The move is an attempt by HUD to stabilize and possibly provide a mild lift to har hit real estate values. The administration is also hoping the policy will help revitalize neighborhoods and communities that have suffered high foreclosure rates.

Investors and buyers must meet a variety of condition to qualify for a loan under the new policy.

The propery cannot have a pattern of “flipping” in the previous twelve months.

All transactions must be “arm-length” . In other words, there can be no identity of interest between the buyers and sellers or other parties participating in the transaction.

Middleton Home Inspection Client Says Thank You

Hyde Park Street Fair

The Hyde Park Street Fair has been a part of the Boise North End for the past 30 years.  WOW!  Camels Back Park has seen many families enjoy one of the last weekends of summer outdoors.

September 17, 18, 19 – 2010

Hyde Park Street Fair Hours

9/17     4 pm to 9:45 pm

9/18   10 am to 9:45 pm

Go to:

www.gruntwerks.net

for more information