[Clifford]

[quote=CA renter][quote=recordsclerk]It’s not the upgrades as much as the type of flexible lending in flipped homes. Most buyers/1st time buyers in the under $400K market have marginal down payments and want a finished home they can just make payments on. Foreclosures and Short Sales usually only offer conventional lending and are missing out on large portion of buyers. That’s why the FHA/VA buyers gravitate towards the flipped homes. If you don’t have the money for a conventional loan, you won’t have the money to re-model after the purchase. This is how flippers are making a living. People like convenience and are willing to over pay for the service. There are a lot of concessions (down payment assistance, closing cost) that are not seen or recorded on a flip sale. The best deals are short sales, followed by foreclosures in today’s market.[/quote]

Agreed. Flippers are making money because buyers are financing the “upgrades” and flipper profits over 30 years.[/quote]

CAR & recordsclerk,

I see the point you are trying to make. But what about the appraisals ? How can the appraisals of the flipped houses (all fixed up) be signinficantly higher to warrant the higher price ?

[Clifford]

[quote=CA renter][quote=recordsclerk]It’s not the upgrades as much as the type of flexible lending in flipped homes. Most buyers/1st time buyers in the under $400K market have marginal down payments and want a finished home they can just make payments on. Foreclosures and Short Sales usually only offer conventional lending and are missing out on large portion of buyers. That’s why the FHA/VA buyers gravitate towards the flipped homes. If you don’t have the money for a conventional loan, you won’t have the money to re-model after the purchase. This is how flippers are making a living. People like convenience and are willing to over pay for the service. There are a lot of concessions (down payment assistance, closing cost) that are not seen or recorded on a flip sale. The best deals are short sales, followed by foreclosures in today’s market.[/quote]

Agreed. Flippers are making money because buyers are financing the “upgrades” and flipper profits over 30 years.[/quote]

CAR & recordsclerk,

I see the point you are trying to make. But what about the appraisals ? How can the appraisals of the flipped houses (all fixed up) be signinficantly higher to warrant the higher price ?

[Clifford]

[quote=CA renter][quote=recordsclerk]It’s not the upgrades as much as the type of flexible lending in flipped homes. Most buyers/1st time buyers in the under $400K market have marginal down payments and want a finished home they can just make payments on. Foreclosures and Short Sales usually only offer conventional lending and are missing out on large portion of buyers. That’s why the FHA/VA buyers gravitate towards the flipped homes. If you don’t have the money for a conventional loan, you won’t have the money to re-model after the purchase. This is how flippers are making a living. People like convenience and are willing to over pay for the service. There are a lot of concessions (down payment assistance, closing cost) that are not seen or recorded on a flip sale. The best deals are short sales, followed by foreclosures in today’s market.[/quote]

Agreed. Flippers are making money because buyers are financing the “upgrades” and flipper profits over 30 years.[/quote]

CAR & recordsclerk,

I see the point you are trying to make. But what about the appraisals ? How can the appraisals of the flipped houses (all fixed up) be signinficantly higher to warrant the higher price ?

[Clifford]

[quote=CA renter][quote=recordsclerk]It’s not the upgrades as much as the type of flexible lending in flipped homes. Most buyers/1st time buyers in the under $400K market have marginal down payments and want a finished home they can just make payments on. Foreclosures and Short Sales usually only offer conventional lending and are missing out on large portion of buyers. That’s why the FHA/VA buyers gravitate towards the flipped homes. If you don’t have the money for a conventional loan, you won’t have the money to re-model after the purchase. This is how flippers are making a living. People like convenience and are willing to over pay for the service. There are a lot of concessions (down payment assistance, closing cost) that are not seen or recorded on a flip sale. The best deals are short sales, followed by foreclosures in today’s market.[/quote]

Agreed. Flippers are making money because buyers are financing the “upgrades” and flipper profits over 30 years.[/quote]

CAR & recordsclerk,

I see the point you are trying to make. But what about the appraisals ? How can the appraisals of the flipped houses (all fixed up) be signinficantly higher to warrant the higher price ?

[Clifford]

[quote=CA renter][quote=recordsclerk]It’s not the upgrades as much as the type of flexible lending in flipped homes. Most buyers/1st time buyers in the under $400K market have marginal down payments and want a finished home they can just make payments on. Foreclosures and Short Sales usually only offer conventional lending and are missing out on large portion of buyers. That’s why the FHA/VA buyers gravitate towards the flipped homes. If you don’t have the money for a conventional loan, you won’t have the money to re-model after the purchase. This is how flippers are making a living. People like convenience and are willing to over pay for the service. There are a lot of concessions (down payment assistance, closing cost) that are not seen or recorded on a flip sale. The best deals are short sales, followed by foreclosures in today’s market.[/quote]

Agreed. Flippers are making money because buyers are financing the “upgrades” and flipper profits over 30 years.[/quote]

CAR & recordsclerk,

I see the point you are trying to make. But what about the appraisals ? How can the appraisals of the flipped houses (all fixed up) be signinficantly higher to warrant the higher price ?

[Clifford]

The only thing that I can think of is:

The seller is trying to market the house at a low price (maybe to him/her $450k is below market) to generate multiple offers.

[Clifford]

The only thing that I can think of is:

The seller is trying to market the house at a low price (maybe to him/her $450k is below market) to generate multiple offers.

[Clifford]

The only thing that I can think of is:

The seller is trying to market the house at a low price (maybe to him/her $450k is below market) to generate multiple offers.

[Clifford]

The only thing that I can think of is:

The seller is trying to market the house at a low price (maybe to him/her $450k is below market) to generate multiple offers.

[Clifford]

The only thing that I can think of is:

The seller is trying to market the house at a low price (maybe to him/her $450k is below market) to generate multiple offers.

[Clifford]

One thing that I notice is that prices seem to have come down a little bit in MM in the 12 months.
I’m saying this because I see some houses that don’t look nice sell for around $330k.
Where as, 12 months ago, these houses would go for $350k.
I also see more properties on the market. AN, what do you think ?

[Clifford]

One thing that I notice is that prices seem to have come down a little bit in MM in the 12 months.
I’m saying this because I see some houses that don’t look nice sell for around $330k.
Where as, 12 months ago, these houses would go for $350k.
I also see more properties on the market. AN, what do you think ?

[Clifford]

One thing that I notice is that prices seem to have come down a little bit in MM in the 12 months.
I’m saying this because I see some houses that don’t look nice sell for around $330k.
Where as, 12 months ago, these houses would go for $350k.
I also see more properties on the market. AN, what do you think ?

[Clifford]

One thing that I notice is that prices seem to have come down a little bit in MM in the 12 months.
I’m saying this because I see some houses that don’t look nice sell for around $330k.
Where as, 12 months ago, these houses would go for $350k.
I also see more properties on the market. AN, what do you think ?

[Clifford]

One thing that I notice is that prices seem to have come down a little bit in MM in the 12 months.
I’m saying this because I see some houses that don’t look nice sell for around $330k.
Where as, 12 months ago, these houses would go for $350k.
I also see more properties on the market. AN, what do you think ?

[Author]

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