Back in the middle of this decade, new construction sales surged as we experienced one of the hottest housing markets of the past century. It seemed that there was a buyer for any and every home built. The last three years has shown us the exact opposite. Calculated Risk reports new construction sales in 2011, 2010 and 2009 were the lowest since 1963.
The FHA 203k loan program provides home buyers the opportunity to buy and fix up a property, without exhausting their personal savings.