???

I just did a post about real estate this morning.

Anyway, later this morning I came across a home listing in my neighborhood. For whatever reason, the flipper heavily advertised that it was a *flip*?

Why would you advertise that???

This is the scenario. 8-year-old home foreclosed due to a divorce situation. Market Value is probably $200,000. (THough, if you price it $225k it will never sell, and if you price it $199k, it might sell in 5 minutes for $220k. Seen it over and over).

Flipper paid $185,000 - bought from bank. I can't imagine the home needed anything more than fresh paint. That said, all that to profit $10,000-ish seems like a LOT of work! But, who knows.

Of course, the home is listed for $225,000. If flipper is a stickler on price, I predict home will sit forever.

Of course, since 99% of the homes in the zip code are bank owned or listed as a short sale, who would you rather buy from? I understand that the ocassional home owner heavily advertised that they are not in a foreclosure or short sale position, because it can be an easier process. But, when the choice is *greedy flipper* or *desperate homeowner* - which do you choose?

I can give the flipper kudos for getting a good purchase price for the home, but then again, home prices are just in a free fall. (Not a situation that screams "Let's flip *nice* homes that don't need any work." Like, where are the profits supposed to come from?)

I don't know - it will be interesting to see how this plays out.

The flippers are back!

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Interesting article today sheds light on the situation:

Home buyers find themselves aced out by investors