HUGE news for would-be condo investors: Fannie Mae has finally changed the rule that has been strangling condo sales. From now on, when new investors apply for financing on a condo unit, no longer will vacant and foreclosed condos be counted as non-owner occupied. Until now, Fannie's long-time policy has been to bar new investor loans in buildings where less than 51 percent of the condos are owned and occupied as principal residences or second homes. Under this rule, many condo communities [...]
Tired of seeing condos listed on the MLS with bogus pricing that requires third party approval? Want to buy a condo at a real, guaranteed price? This 1/1, 1200 square foot condo (plus loft) has vaulted ceilings and is in a great community in Metro West, one of Orlando's prettiest neighborhoods. It was purchased for $135 a couple of years ago and as a result of the condo crash it is now available for just $85k (that's $50k off - or a 40% reduction - or just $70 per foot!). This is not an [...]
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