I’ve been noticing much more of a budget houses I had been watching throughout my lively house search coming again available on the market recently as rehab flips. Not solely that, however they’re promoting, generally pretty shortly, at double the earlier value or extra.
Try a pair examples in my neck of the woods:
New paint inside and outside, new exterior woodwork, new kitchen with the requisite granite counter tops and chrome steel home equipment, new (or at the very least refinished) flooring… Offered in 5 months at $116,000 (63%) above the earlier value.
Astute readers might recall that this home was really one of many ones I made a proposal on during my search, again when it was available on the market for a bit over $100ok. It ended up promoting again in Might for $114,000. After a fast refresh, the flippers put it again available on the market in July. It went pending in only over per week and offered in August for $163,000 (143%!) greater than the earlier value. Wow, good work.
I haven’t been paying tremendous shut consideration to particular person listings down in Seattle correct to know if this form of factor is turning into extra prevalent down there as nicely. We talked about this about a year ago, however I assumed it might be attention-grabbing for readers to share some latest flips they’ve seen of their neighborhoods.
So what are you seeing on the market? I’m most curious about profitable flips, since as we have seen, some flippers is usually a bit over-optimistic on pricing after they hit the market.