Jack Lewitz (Exit Strategy Realty)

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Rainer
22,010
Mike Sasse
OfferPad Home Loans, LLC - Scottsdale, AZ
Sales Leader

Not too many FHA condos here. (A lot of condo-hotel, resort condo, etc) FHA is definitely not my go-to program since median condo price is creeping up to $400,000 - it makes the MIP unaffordable.

Jul 09, 2015 11:05 AM
Rainer
126,514
Mike Tizzano
Amerifirst Financial, Inc Equal Housing Oppurtinity Lender AZ BK0013635 NMLS 145368 LO:1015837 - Mesa, AZ
Protect Your Transaction Certified Lender

Yes, many HOAs don't go through the renewal process.

Jul 07, 2015 02:19 PM
Rainmaker
175,464
Spirit Messingham
Tierra Antigua Realty - Tucson, AZ
Third Generation Full-Time Realtor® 520 471-6900

Yes, even going CON loan is getting harder and harder for condos.   There are only 7 condo complexes in Tucson, AZ on the FHA approved list and those are still hard to get done.

Jul 07, 2015 09:01 AM
Rainmaker
178,919
Kim Johnson
Signature Realty Inc. - Coral Springs, FL
Selling South Florida

It is hard to find FHA approved condos here. 

Jul 07, 2015 06:40 AM
Ambassador
3,986,518
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I haven't noticed and haven't run into more of a problem than before. In fact I find it easier to find condos to go FHA.

Jul 07, 2015 04:48 AM
Rainer
66,214
Evelyn M Epperson
Coldwell Banker Residential Brokerage - Johns Creek, GA
A Tradition Of [Excellence, Trust & Service]

YesnI have a buyer looking for condos and would really like to go FHA.  I have not found one condo that can go FHA.  My buyer is switching to conventional loan.

Jul 07, 2015 04:24 AM
Rainmaker
4,799,356
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

We've always had very few FHA approved condos here in Martin County.  Though, it doesn't seem to keep people fro getting some FHA loans done through some very good lenders.

Jul 07, 2015 03:48 AM
Rainmaker
1,157,435
FN LN
Toronto, ON

We have a lot of condos in my trading area but no FHA approved condos.

Jul 07, 2015 02:01 AM
Rainmaker
379,689
Cindy Davis
SD Home Source Realty - San Diego, CA

In my city, there have always been relatively few fha condos.

Jul 07, 2015 01:15 AM
Rainmaker
4,740,870
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Yes, many investors are purchasing them, sending the ratio of non-owner occupieds over the 51%. 

Jul 07, 2015 01:07 AM
Rainmaker
3,961,251
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Jack -- in my market area that's true.  I also see many complexes where the certification has expired.

Jul 07, 2015 01:01 AM
Rainmaker
869,411
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

You bet.

And if I were the property manager I would not jump through the FHA hoops either. 

It is important to understand why the buyer is choosing FHA. Is it because the have to (poor credit or no down payment saved) or because they don't want to spend their liquid assets so those assets can be committed to remodeling.

Jul 07, 2015 12:38 AM
Rainer
112,897
Vera Gonzalez
RE/MAX Suburban, Inc. - Sterling Heights, MI
Gonzo For Real Estate

It is like a needle in a haystack here:(

Jul 07, 2015 12:16 AM
Rainmaker
699,077
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

Fewer than many years ago.

Jul 07, 2015 12:01 AM