This past weekend, Darcy and I had the priviledge of showing a family some fixer uppers here in our market. To be honest, it has been a while since we have shown anyone any fixer uppers. Whether it has been the market conditions, or just that many sellers in our market were pricing fixer uppers as though they already been fixed up.
This weekend was an eye opener, we have a couple of great opportunities with some fixers. I don't know that there is enough margin there to fix and flip, but certainly good solid investments to someone looking to buy and fix it up for a residence. There is easily some equity to be had with them all repaired, although not quite enough to make the flippers happy. In short, it was a great weekend with a very nice, new, client, finding some real gems in our market.
It isn't the same as it was a few years ago, when there were a lot of fixer upper houses, many with great appreciation potential; but it to me, it is a good sign. The more affordable, buyer friendly (in terms of equity) homes that we have on the market, the stronger the market will become.
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