With all the shows geared towards quick cash in today’s shaky economy, the stand outs without a doubt are the home flipping entrepreneurs. They do it all right down to gutting, rebuilding and staging once dilapidated nothings, into what seem like shiny new everythings. From a personal standpoint though, I prefer the Holmes on Homes, the Income Property, and Sell this House. My reasoning is that as a realtor, I find myself wishing more attention was paid to the items I see these shows constantly having to “fix up”. No where else is this so evident as in our nation’s capital. Smelly basements, leaky walls, and shoddy electrical have come together in a marriage of mediocre home renovation. As a result I see a rise in 203K sales and a fall of the once great “flipper”, as many of the “investors” around the country like to refer to themselves. It’s a simple case of cutting corners, the result of which is causing buyers to have to find a way to make the renovation livable and not to mention within a budget.
What this means to buyers!?
Simply put if you are looking to make a move into the “up and coming” areas of the city and get the most bang for your buck, you can find the deals long since forgotten. The investors jump on the houses priced low the day they come on the market. It’s after they have gotten their hands on them, done poorly, given up, or re-listed an un-renovated property that the FHA consumers get to come back into the game. Shop the high days on the market, see what you find! So if you feel like going on the hunt for the long forgotten deals and the DC Flip “Flops”, give us a call, we’d love to help!E-mail this post