Hopefully, "flipping" is a word familiar to most. At least I hope most know what I am going to write about here. And no, not flipping 'burgers!
The end of the year, and the beginning of the new, finds many agents in our area (Fredericksburg Virginia) preparing paperwork to support their proof of the past year's production. There are some that use these numbers to validate their designations as top producers in their local associations. "Million Dollar Producers" they are called in some areas. Now that could be the subject of another blog.
Wonder how much flipping we are going to see in the year ahead. Foreclosures will, IMHO, become quite prevalent in 2007. Thus far there have not been too many appearing in our MLS system. However, there are some indications of preforeclosure actions.
The reason I thought it interesting to begin this blog post was that I saw a listing that was entered during the past week in the MRIS (Metropolitan Regional Information System). The same agent was the listing agent on two listings; both for the same address. Both, apparently, were listings for a "new" home. Both listings were entered on the same date (retroactively). One sale was for $X and the next was for $X + $15,000. Agent conveniently disguised the name of the sellers. Everything I read in the listing indicated that the only way both could be accurate was if there was "flipping" involved.
Another thing that entered my mind was that perhaps the agent was getting prepared to submit their "production" figures to the body that issues the top producer awards. Hopefully, that was not the case here.
Anyway, what do you think? Will we see much "flipping" in 2007?