House flipping, a quick-buck scheme pursued by amateurs and professionals alike during the real estate boom, now is dominated by investors willing to pay all cash, who troll auctions for foreclosures that banks are gradually trying to siphon off their books
via sfgate.com
In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan recently announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties.
via RISMedia.
The number of house flipping “gurus” out there is at a high point, matching the peak in troubled mortgages.
via Suite 101
Good news folks; one of the foundations of economic prosperity in the 2000s – manufacturing products other countries want house flipping – is making a comeback as trillions of free money is borrowed / printed, and thrown into the system. It's amazing how “resilient” the economy is when you trash future generations with a few trillion of extra liabilities.
via Seeking Alpha.
Now, a different breed of flipper is proliferating: one who seeks bargains at foreclosure auctions. Unlike the boom-time flippers, the latest generation needs cold cash, lots of local-market knowledge and strong nerves.
via WSJ.com.
Jim the Realtor is watching for “flips turning to flops” and this might be one.
via Calculated Risk
