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SVTPerformance's Chain of Restaurants
Road Side Pub
The housing market
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<blockquote data-quote="Voltwings" data-source="post: 15857213" data-attributes="member: 155561"><p>That's the only reason California has a hot "house flipping" market. There is nowhere else in the country where you can find a house priced $200k below the comps in the area, dump $100k in reno into it and then profit $50k-100k said and done. Nowhere else has the insane prices to support ridiculous spreads like that, in Houston $200-300k homes are pretty much the bread and butter... a flipper would be lucky to find something $20-30k under comps in the area, and what reno are you going to do for that amount and still be able to turn a profit? There was a foreclosure in a neighborhood we saw that was listed for $230 and the median home price was still $250 - 300. Not a lot of wiggle room. </p><p></p><p>Not that i want to flip or am interested in it, but it's just ridiculous to watch these shows on HGTV (admittedly, i do enjoy flip or flop ...) and see the prices things go for in California for a basic, "run of the mill" house.</p></blockquote><p></p>
[QUOTE="Voltwings, post: 15857213, member: 155561"] That's the only reason California has a hot "house flipping" market. There is nowhere else in the country where you can find a house priced $200k below the comps in the area, dump $100k in reno into it and then profit $50k-100k said and done. Nowhere else has the insane prices to support ridiculous spreads like that, in Houston $200-300k homes are pretty much the bread and butter... a flipper would be lucky to find something $20-30k under comps in the area, and what reno are you going to do for that amount and still be able to turn a profit? There was a foreclosure in a neighborhood we saw that was listed for $230 and the median home price was still $250 - 300. Not a lot of wiggle room. Not that i want to flip or am interested in it, but it's just ridiculous to watch these shows on HGTV (admittedly, i do enjoy flip or flop ...) and see the prices things go for in California for a basic, "run of the mill" house. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
The housing market
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