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What Gabe Sanders and Jeff Dowler CRS said. ^^^
Here in our neck of the woods the real flippers have already unloaded their inventory. Now it's just a game of musical chairs among the novices.
Peter Mohylsky. Brok...
Santa Rosa Beach, FL
Yes, many investors have helped clear out the foreclosure inventory and especially those properties that couldn't be financed because of their condition.
I think that when the articles hit the press about all this home flipping, it's probably a bit too late for the best deals. Not as good an environment as it was a couple of years ago. (Though, there are still opportunities, just fewer and more difficult to find.)
Diana Zaccaro Broker A...
Cocoa Beach, FL
We are seeing less than we did a couple of years ago. With higher prices it's more difficult to find the right home to make the financials work. And there are far fewer REOs and short sales
Diana Zaccaro Broker A...
Cocoa Beach, FL
Sure, and we do it too.
We saw this mostly a few years ago, and now fading quickly, as flippers are doing it to make a profit, and only way now is to buy the home at the court house.
Not as many but still occurring in parts of our market.
I hear radio ads all the time
I work primarily with investors, so I'd say it's still going strong out here.
Not too much here in Florida as sellers know the value of their homes and refuse to give them away just so an investor can reap the profits.
I'm working with several investors.
Yes, happening on a regular basis in the Sarasota Florida area!
I am not seeing as many flippers as I used to.
Good morning Peter. Whoever wrote these articles has not clue or can out of Trump University. Unless someone is a very experienced flipper, folks should not get involved.
Peter Mohylsky good for FL for sure.
We do not have so many opportunities in MA - or may be, I don't see them.
Not so much anymore, but when we had the low end fixer upper bank owned inventory I worked with many investors on the fix and flip.
Not really. It is a Seller's market in our area and the prices are to high to make money on top of rehab.
Oh yes most REOs are being bought by investors that are flipping the properties and that has been the case for the last 6-7 years.
The foreclosures are being priced at appraised value, minus the cost of repairs. They are getting multiple offers. I don't know how any flipper could make a profit on those bank REOS.
But other clunker junker houses sell quickly. The Flipper dolls up the house, then asks top dollar. Anyone with a trained eye can spot the "lipstick on a pig".
Our market is not volitle enough in pricing so it is difficult. That is not stopping the tent revival fix and flip shysters from coming to town to sell you a bill of goods. You too can flip a house and get financing at 12% to 18% interest!
Not as much as a couple of years ago. The margin of profit is not as wide as before.
Sure and it is always going on...However, everyone is looking for certain and specific returns on their investment
Our housing in Colorado springs doesn’t lend itself to flipping like properties in my Houston market do.
Not in SoCal, there are investors here, but they are vigorously looking for deal in this market when the inventory is low and prices high.
Not much. If there is a home of value, it is turned into a rental.
Most of the houses in my area have been flipped
Yes and I am proud to say I helped Florida become #2!
I don't see a lot of flipping in this area.
No, I think that it has slowed down. Foreclosures are not being priced at rock bottom so investors have gone to auctions & directly to banks to try & get the deals.
You bet! Lots of flips.
The good ones profit $50,000.
The bad ones profit more.
The all use the same formula and that formula is shared in the articles that appear on a weekly basis.
The great deals are gone; however there are still some good deals in our market.
We have had two seminars recently for the less informed to learn how to flip.
As to pricing it is becoming less viable here.
No, we haven't seen flipping much since the depth of the recession. Toward the end it was only the stripped foreclosures that were worth flipping here. But once in awhile an old or poorly maintained home shows up and the flippers pounce.