Just want to add that it’s not only the flippers at the auctions that I’m talking about.
There have been a number of homes that have either been short sales or REOs and they are listed as “contingent” or “pending” upon listing. These often seem to be flippers as well (though not all are flips).
The other aspect is the open-market homes that need a lot of work but are still overpriced for an organic buyer with cash/high down payment. They are priced for flipping/speculating, and they get that price because the flippers later sell them to the FHA crowd mentioned above.
