Monday, January 16, 2012
Real estate word for the weekend: flip
San Fernando Valley this past weekend. It seems that just about everything I saw was a professionally rehabbed home. And they were mostly nicely done, too. The one above is on Buffalo, just south of Chandler, and it's already in escrow. The other noted trend: most of the flippers are also real estate brokers with their own companies -- no longer are these groups of flippers giving their properties over to large real estate brokerages to sell, they are creating their own companies and selling the properties themselves. Back to the rehabbing: all in all, I think it's a good trend -- most buyers today have neither the time nor money to fix a home after they purchase it.