House flipping

Crashy_Time

Flipping ain`t what it used to be.

https://www.marketwatch.com/story/zillow-stock-dives-after-analyst-highlights-two-thirds-of-homes-bought-are-underwater-11635785293

SallyDucati

Crashy_Time said:

Flipping ain`t what it used to be.

https://www.marketwatch.com/story/zillow-stock-dives-after-analyst-highlights-two-thirds-of-homes-bought-are-underwater-11635785293

I don't think house prices in Pheonix, Arizona have a huge transfer over here.

Crashy_Time

SallyDucati said:

Crashy_Time said:

Flipping ain`t what it used to be.

https://www.marketwatch.com/story/zillow-stock-dives-after-analyst-highlights-two-thirds-of-homes-bought-are-underwater-11635785293

I don't think house prices in Pheonix, Arizona have a huge transfer over here.

No, but there was a time when "flipping" was a global phenomena, developed countries anyway, and if a company with turnover in the billions is struggling to do it people trying to do it small scale maybe should be wary too?

Ozzuk

Crashy_Time said:

SallyDucati said:

Crashy_Time said:

Flipping ain`t what it used to be.

https://www.marketwatch.com/story/zillow-stock-dives-after-analyst-highlights-two-thirds-of-homes-bought-are-underwater-11635785293

I don't think house prices in Pheonix, Arizona have a huge transfer over here.

No, but there was a time when "flipping" was a global phenomena, developed countries anyway, and if a company with turnover in the billions is struggling to do it people trying to do it small scale maybe should be wary too?

Actually, if someone bought at 85k and now has interest 3 months later at 145k you could argue it's a pretty good business!  I'd actually agree with you for once though that flipping houses is a lot more difficult now.

OP...what is it worth to you?  I tried selling a house few years ago for 50k more after living there a year, and had comments about price and low offers because people felt I'd had a bargain and should lower price.  Was quite annoying.  The house was worth the price (market rises, renovation), I took it off market (another reason) and sold the following year for a little more again.  If you are house hunting you should have a feel for the value of the house, and should have seen comparable properties, if you feel it is worth it then forget what someone else paid.

Crashy_Time

Ozzuk said:

Crashy_Time said:

SallyDucati said:

Crashy_Time said:

Flipping ain`t what it used to be.

https://www.marketwatch.com/story/zillow-stock-dives-after-analyst-highlights-two-thirds-of-homes-bought-are-underwater-11635785293

I don't think house prices in Pheonix, Arizona have a huge transfer over here.

No, but there was a time when "flipping" was a global phenomena, developed countries anyway, and if a company with turnover in the billions is struggling to do it people trying to do it small scale maybe should be wary too?

Actually, if someone bought at 85k and now has interest 3 months later at 145k you could argue it's a pretty good business!  I'd actually agree with you for once though that flipping houses is a lot more difficult now.

OP...what is it worth to you?  I tried selling a house few years ago for 50k more after living there a year, and had comments about price and low offers because people felt I'd had a bargain and should lower price.  Was quite annoying.  The house was worth the price (market rises, renovation), I took it off market (another reason) and sold the following year for a little more again.  If you are house hunting you should have a feel for the value of the house, and should have seen comparable properties, if you feel it is worth it then forget what someone else paid.

I would say that will be a very rare occurrence going forward in this climate.