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Flippers in Trouble



March 10, 2008 – Comments (3)

It's always fun to check in with this blog. Here's a great recent sample.

Total Loss: $421,100Percent Loss: 44.5%Asking Price: $524,900
Bedrooms:6    Baths: 4    Sq. feet:5589
Days on market: 7
# of Times Listed: 2


Previous Sales:
Sold on 2006-03-24 for $946,000

MLS# 80018988      Google Maps
Assessed Value       Property Tax Bill

3 Comments – Post Your Own

#1) On March 10, 2008 at 10:07 AM, Gemini846 (34.27) wrote:

Nice. What do you think about the prospects of investing (say 5-10 year horizon) in raw land?

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#2) On March 10, 2008 at 12:08 PM, ByrneShill (83.34) wrote:

LOL, asking price is still more than half a milion bucks. There was a time when half a milion was a lot of money.

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#3) On March 10, 2008 at 2:24 PM, mysoftballcoach (72.31) wrote:

WOW!!!  I've just recently become a fan of the TV shows "Flip this House" and "Flip That House".  Not that I have ever considered flipping houses, but thoroughly enjoy the shows.  I have always envisioned I would be the guy that couldn't get the contractors to show up, massive cost overruns, delays, etc.

 Being in Dallas, our housing market has remained much stronger than other parts of the country.  The blog you mentioned in your post is very telling about how deep the mortgage problem really is.  

It's going to take some years to work out this mess.  Just hearken back to the '80's with the banking and S&L crisis.  Much of that, in particular with the S& L's, was due to real estate.  I was a Bank Liquidation Specialist for nearly 10 years with the FDIC.  

 Thanks for the post, and in particular the link to that site.


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