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bearishgurl.
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June 30, 2010 at 7:44 PM #575149June 30, 2010 at 7:55 PM #574128
jpinpb
Participantsdr – I did NOT say Canon was a flipper. In fact, I stated I could not confirm. And I also stated in a previous source that it’s not just the flippers that are playing a part in this, but government intervention. I think were it not for government intervention, I doubt Canon would have sold at that price.
June 30, 2010 at 7:55 PM #574225jpinpb
Participantsdr – I did NOT say Canon was a flipper. In fact, I stated I could not confirm. And I also stated in a previous source that it’s not just the flippers that are playing a part in this, but government intervention. I think were it not for government intervention, I doubt Canon would have sold at that price.
June 30, 2010 at 7:55 PM #574748jpinpb
Participantsdr – I did NOT say Canon was a flipper. In fact, I stated I could not confirm. And I also stated in a previous source that it’s not just the flippers that are playing a part in this, but government intervention. I think were it not for government intervention, I doubt Canon would have sold at that price.
June 30, 2010 at 7:55 PM #574855jpinpb
Participantsdr – I did NOT say Canon was a flipper. In fact, I stated I could not confirm. And I also stated in a previous source that it’s not just the flippers that are playing a part in this, but government intervention. I think were it not for government intervention, I doubt Canon would have sold at that price.
June 30, 2010 at 7:55 PM #575154jpinpb
Participantsdr – I did NOT say Canon was a flipper. In fact, I stated I could not confirm. And I also stated in a previous source that it’s not just the flippers that are playing a part in this, but government intervention. I think were it not for government intervention, I doubt Canon would have sold at that price.
June 30, 2010 at 8:00 PM #574133Ricechex
ParticipantHere is another one I suspect was bought by a flipper. In my neighborhood, listed at $399K. Solid construction, but an old woman had lived there, and it was not updated. Open house and sold within one month. Sold for $415K. Since then, there have been plumbers, electricians, all kinds of workers over there–I guess $50K in upgrades. If they try and sell for 150K more, that would make its price $550K. I think the flippers are going to lose on that one.
http://www.sdlookup.com/Property-3CCEAA7B-3432_Vancouver_Ave_San_Diego_CA_92104
June 30, 2010 at 8:00 PM #574230Ricechex
ParticipantHere is another one I suspect was bought by a flipper. In my neighborhood, listed at $399K. Solid construction, but an old woman had lived there, and it was not updated. Open house and sold within one month. Sold for $415K. Since then, there have been plumbers, electricians, all kinds of workers over there–I guess $50K in upgrades. If they try and sell for 150K more, that would make its price $550K. I think the flippers are going to lose on that one.
http://www.sdlookup.com/Property-3CCEAA7B-3432_Vancouver_Ave_San_Diego_CA_92104
June 30, 2010 at 8:00 PM #574753Ricechex
ParticipantHere is another one I suspect was bought by a flipper. In my neighborhood, listed at $399K. Solid construction, but an old woman had lived there, and it was not updated. Open house and sold within one month. Sold for $415K. Since then, there have been plumbers, electricians, all kinds of workers over there–I guess $50K in upgrades. If they try and sell for 150K more, that would make its price $550K. I think the flippers are going to lose on that one.
http://www.sdlookup.com/Property-3CCEAA7B-3432_Vancouver_Ave_San_Diego_CA_92104
June 30, 2010 at 8:00 PM #574860Ricechex
ParticipantHere is another one I suspect was bought by a flipper. In my neighborhood, listed at $399K. Solid construction, but an old woman had lived there, and it was not updated. Open house and sold within one month. Sold for $415K. Since then, there have been plumbers, electricians, all kinds of workers over there–I guess $50K in upgrades. If they try and sell for 150K more, that would make its price $550K. I think the flippers are going to lose on that one.
http://www.sdlookup.com/Property-3CCEAA7B-3432_Vancouver_Ave_San_Diego_CA_92104
June 30, 2010 at 8:00 PM #575159Ricechex
ParticipantHere is another one I suspect was bought by a flipper. In my neighborhood, listed at $399K. Solid construction, but an old woman had lived there, and it was not updated. Open house and sold within one month. Sold for $415K. Since then, there have been plumbers, electricians, all kinds of workers over there–I guess $50K in upgrades. If they try and sell for 150K more, that would make its price $550K. I think the flippers are going to lose on that one.
http://www.sdlookup.com/Property-3CCEAA7B-3432_Vancouver_Ave_San_Diego_CA_92104
June 30, 2010 at 8:01 PM #574138sdrealtor
Participantgary
I dotn deny that it may be going on in the real low end East County zips to a much greater degree but in the NCC and Central Coastal markets it just isnt happening anywhere close to the extent posited by CAR or JP.BTW, many of those home being flipped in East County were likely formerly uninhabitable and would not qualify for loans in their former condition. The flippers are fixing homes and making them marketable. The FHA buyers are getting homes they can afford (remember qualifying is tough) that are in turn key condition and they dont have the money to fix up even cosmetic fixer homes. In low end markets like that, I think the flippers serve a far more important role than in higher end ZIPS.
June 30, 2010 at 8:01 PM #574236sdrealtor
Participantgary
I dotn deny that it may be going on in the real low end East County zips to a much greater degree but in the NCC and Central Coastal markets it just isnt happening anywhere close to the extent posited by CAR or JP.BTW, many of those home being flipped in East County were likely formerly uninhabitable and would not qualify for loans in their former condition. The flippers are fixing homes and making them marketable. The FHA buyers are getting homes they can afford (remember qualifying is tough) that are in turn key condition and they dont have the money to fix up even cosmetic fixer homes. In low end markets like that, I think the flippers serve a far more important role than in higher end ZIPS.
June 30, 2010 at 8:01 PM #574758sdrealtor
Participantgary
I dotn deny that it may be going on in the real low end East County zips to a much greater degree but in the NCC and Central Coastal markets it just isnt happening anywhere close to the extent posited by CAR or JP.BTW, many of those home being flipped in East County were likely formerly uninhabitable and would not qualify for loans in their former condition. The flippers are fixing homes and making them marketable. The FHA buyers are getting homes they can afford (remember qualifying is tough) that are in turn key condition and they dont have the money to fix up even cosmetic fixer homes. In low end markets like that, I think the flippers serve a far more important role than in higher end ZIPS.
June 30, 2010 at 8:01 PM #574864sdrealtor
Participantgary
I dotn deny that it may be going on in the real low end East County zips to a much greater degree but in the NCC and Central Coastal markets it just isnt happening anywhere close to the extent posited by CAR or JP.BTW, many of those home being flipped in East County were likely formerly uninhabitable and would not qualify for loans in their former condition. The flippers are fixing homes and making them marketable. The FHA buyers are getting homes they can afford (remember qualifying is tough) that are in turn key condition and they dont have the money to fix up even cosmetic fixer homes. In low end markets like that, I think the flippers serve a far more important role than in higher end ZIPS.
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