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Flipping Houses - is it making a comeback?
| Posted on February 10, 2014 at 5:48 AM |
Flipping Houses - it's on again! We have been experiencing a number of contacts for work from new developers who are "flipping" houses again. The concept of "flipping" homes became the subject of a lot of controversy during the period when the housing market experienced a downturn after 2008. With the market looking up we are seeing the phenomenon return. For a stager, whether a home is being "flipped" can make a difference in our jobs. When a developer who is new to the concept takes on a large project without knowing the basic principles to what makes it work, the house can stay on the market much longer than usual, usually because it has been overpriced or priced out of the local market. For homebuyers, keeping an eye out for homes that have been "flipped" can be important because you want to be sure the home you buy has been remodeled with quality construction and fixtures by a qualified general contractor who has taken out the appropriate permits and had done a good job. Your real estate agent and inspector can help you do the research to make sure the home you are buying is done well and is priced right. If the contractor and developer have done their job right and have completed the home using quality materials & with attention to detail, you can find a home that is perfect for your needs that is like new. If the "flipper" was more interested in getting in and making a quick profit you could be in trouble. For more information on this interesting topic, see our page "Recommended Reading" for an article by a former "flipper" (who did excellent work) on how to "flip" for a profit & still do quality work. Let us know what you think! |
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