flippers: Beware of the New Foreclosure Flippers
- 10/08/14 09:54 PM
Increasing property values in Coweta County Georgia over the last few years have led to a new kind of property flipper and consumers need to be wary. These marginal foreclosures are getting a fresh coat of paint, some new flooring, and a few new shrubs planted here and there and are being offered as renovated properties. The sellers are the former lien holders of the property. Fannie Mae, in particular, now sees its portfolio of repossessed property as cash cows instead of white elephants. Owners have a right to dispose of their property for any price they wish. There is no … (15 comments)
flippers: A flipper bought a house in my neighborhood. And I’m so glad they did
- 07/22/12 09:47 PM
Recently a foreclosed home in my neighborhood was purchased by a “flipper.” And I couldn’t be more pleased. Whether we like it or not, foreclosures affect all of our property values. When a house goes to the courthouse steps to be auctioned, typically the owner of the mortgage will obtain title to the property. And when they do, they will usually sell the property in “as-is” condition, which normally translates to lower sales prices. But a flipper understands that bringing the property back to good market condition will result in a higher sales price, which generates a higher profit margin for … (44 comments)
flippers: Who's buying all of these foreclosures?
- 02/19/08 03:08 PM
You may have noticed that all of these foreclosures and REO properties are not staying on the market very long. So I began to wonder, just who is buying all of these budget priced properties. What didn't surprise me is that many of these properties are being gobbled up by investors seeking to enhance their rental property portfolios. And why not? At these prices, combined with favorable interest rates and increased demand for rental property, it's easy to achieve a positive cash flow on many of these bargains. What does surprise me, is the number of these properties being purchased by individuals and … (3 comments)
Increasing property values in Coweta County Georgia over the last few years have led to a new kind of property flipper and consumers need to be wary.
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