JP not true at all. The appraisals and BPOs use the sales off the MLS. Flippers dont buy from flippers. They are buyers not flippers.
Also a buyer is a buyer is a buyer. Ask any appraiser where he gets his comps. He gets them from the MLS, he doesn’t go to trustee sales. Now you track properties, you can go to the tax rolls to see how many of them had trustee sales to 3rd parties to form comps. See for yourself and add the stats.
Again, there seems to be a FUNDAMENTAL premise that the home would sell for much less if it was put out on the market by the bank. Why is that? Do you really think that that many of the buyers out there are flippers? So far there are 2 or 3 properties mentioned… I just don’t get it.
When you say “many” of those buyers are flippers can you quantify that? Pick an area and I will look at the past 20 sales and we can see who was a flipper. Please pick an area that you or CAR want to buy in so we can see how all these flippers are squeezing you guys out. Finally if the data was available to show how many people in those same areas were being aided by banks I think we would clearly see which had more of an effect.
