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The Hybrid Buyer
During the hot years of real estate there was a shift in motive when it came to buying a home. I started hearing the stories around 2000 - "Hey, you know that home Elbert bought in Big Oaks subdivision? I heard he sold a year later and walked away with $70,000! All he did was paint it and put on a new roof."
Then, the talk spread like a rumor of infidelity at a coffee klatch.  Everybody was knocking down big bucks in real estate. The late night investment programs showed you how to buy and sell real estate so you, too, could own a yacht, a Rolex and a villa south of France.
At some point a hybrid buyer was created, one who was buying a home to live in, but also had visions of money plums dancing in his head. What I found in my business was the hybrid buyers were usually single, newly married with no children or buyers who were only staying in town for a few years (military, contract workers, etc), although it eventually affected a broader range of buyers.
It was a good strategy: buy a home that needed a little work, add value through sweat equity, live ... more

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