My first thought is "owner occupied". And there is nothing better for our current market then to fill neighborhoods with people who want to live there, take care of their homes, and be good neighbors.
My second thought goes to the property itself. I do a lot of short sales. So it is imperative to evaluate if the property has problems that will prevent FHA from lending on it. In a short sale, the seller can't fix the problems because they have no money. And, unfortunately, the short sale lender, who is already taking less than what is owed to them, will not pay for the needed repairs. A good listing agent will know if their property is FHA financeable and should disclose if it is not.
Good luck in finding your new home. And as you can see from the answers below, being an FHA buyer is not a problem in this market. Dare to Dream.
Shel-lee Davis, QSCÂ®
Certified Distressed Property Expert â€“ CDPEÂ®
Short Sale & Foreclosure Resource â€“ SFRÂ®
Certified HAFA Specialist â€“ CHSÂ®
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty