Why my listing at 2007 N. 6th in Burbank must be purchased for cash

2007 N. 6th Street in Burbank needs to be purchased for all cash because it is a FIXER. Yes, there are some FHA programs and banks that will loan on fixers, but not one that's below minimum standards like this one.  This house has been vacant for many years and needs way beyond the typical DIY coat of paint and new windows.  So, do you know anybody with $485k in cash that wants a project?

FHA 203K Curious? -- Redfin comes in handy!

FHA offers a program for buyers of fixers where the cost of the improvements can be wrapped into the loan.  It's called the FHA 203k program.  As you might imagine, these loans are not eazy to get but they are a great way for buyers without a lot of cash to afford to purchase fixers.  To date, I don't know anyone who has applied for one of these nor any Realtors who have closed a transaction with one of these.  At any rate, Redfin.com has lots of details about these loan transactions in their L.A. forum thread.  As soon as I get permission, I'll post the details.