Palm Springs Area Real Estate

In a REALTOR® Magazine-Daily News Article titled : Wholesalers Flip Houses, Distorting the Market Associate director for housing and economics Andrew Jakabovics, at the Center for American Progress, a Washington, D.C., think tank argues that "It makes the bottom [of the market] very frothy and hard to figure out where real value is." Others argue that it makes it harder for lower-income families to take advantage of a down market. My take is "Cash is King" when it comes to lenders in a real estate transaction. My question is how could it be controlled ? What are your thoughts on the subject .. I would love to hear some arguments .

The FHA has eased it's anti-flipping rules by waiving the 90 day rule as of Feb 1st 2010 . That means real estate investors seeking foreclosed properties to fix and sell can now obtain mortgage insurance for some purchases and be able to flip the property even if they hold it for under 90 days. That will translate into more affordable first time home buyer homes eligible for FHA financing , and more investors. The first-time home buyers tax credit expires April 30, 2010.