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What buyers and investors should know about VA Repos

By in Buying On January 27, 2010

There are many types of foreclosures available in Colorado Springs and one type of foreclosure is a VA Repo. These types of properties are sold by the Veterans Administration (VA). There are a few important things buyers should be aware of when looking to purchase a VA Repo in Colorado Springs. 1. Inspection - Normally,…

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Yet another change that will impact investors in Colorado Springs

By in Investors On January 24, 2010

Fannie Mae and Freddie Mac have recently changed guidelines regarding seller contributions. If you are purchasing a second home that is not your primary residence, the seller can not contribute more than 2% of the purchase price toward buyer closing costs. In other words, if an investor purchases a home for $150,000, the seller cannot…

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Fannie Mae makes changes for REO Investor Purchases

By in Buying On December 9, 2009

Yet another change that will affect investors who purchase Fannie Mae Real Estate Owned (REO) listings.  Investors will not be allowed to submit an offer on an REO property until after it has been on the market for 15 days. Within the first 15 days, only bids from buyers who will occupy the home as their primary residence…

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Good news for investors in Colorado Springs!

By in Buying On February 20, 2009

Many investors have expressed frustration with only being allowed to finance a total of four investment properties.  These restrictions have limited investors considerably and have resulted in many distressed properties that could have been picked up by investors in the past to sit on the market instead.  With more inventory, fewer home sales, and a…

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5 changes that affect investors in Colorado Springs

By in Investors On October 13, 2008

1.  Fewer properties- Investors were allowed up to 10 investment properties in the past but since mortgage restrictions have tightened up, investors are now only allowed to finance a total of 4 investment properties. 2.  Extra Fees- Freddie Mac and Fannie Mae will be imposing additional fees to investor loans due to the current real…

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