[quote=jpinpb][quote=CA renter]
I used to believe there were “strict appraisals,” but have seen enough flips lately that negate that theory. I’ve seen flippers make $100K-$150K in a couple of months with maybe $20K in “improvements.” If appraisers are valuing the **same house** $100K+ more than the what it sold for just a few months ago, the whole system is broken.
[/quote]
Here you go. I just came across this and thought of your post: 3929 Texas
Sold 05/18/2010 for $385,000
Flip price 590k.
WTF!!!!
Where are my crazy pills?[/quote]
Wow…someone actually bought this for $385k? That is bad enough, not to mention the flip price. This is at the corner of a VERY busy intersection. Unless it is being used as a business, I can’t see living there…
