June 18, 2008

Flipping Houses | How Good is the Real Estate Market in Your Community?

Real Estate Market in Your Area is What Matters

We've recently had a pretty big event happen in our lives that directly effect the information discussed on this site. About a week ago my wife applied, interviewed, was offered, and accepted a job in a faraway place - Seattle. As a result, our plans for fixing and flipping our house have been accelerated somewhat.

Many people in this situation would be worried that the housing market is going to effect both the price received for their house and the time it takes to sell it. And many should. However, you should only be worried if your local housing market is acting the way those cold spots around the country are. For example, if I was selling a house in Las Vegas, Phoenix, or Miami, I'd be worried because those real estate markets are not only flooded with houses, but housing prices have dropped dramatically.

Our market, thankfully, has not acted in that way. It seemed that for a time people heard the news of the housing bubble, the housing crisis, and the mortgage crisis, and everyone was scared away from buying or selling their houses. After a bit of time, though, it became clear our market wasn't affected like some of the above named. As such, people, like they always are, are looking to buy a home for the first time, move out of a home that is too small, or move into a bigger home that reflects how important they are. All these reasons are great reasons to buy a house - and our flip in particular.

I haven't updated the status of our flip in a long time, and I plan to do so shortly. If you missed out, though, I've already talked about the flip in general, the kitchen, and the dining room. It is almost complete; only a few small things left to do (as there would be on any house about to go on the market), and I'm excited to see what we get for it.

So, stay tuned for updates on our house flip, and feel free to leave comments with suggestions, thoughts, comments, or anything else you might have.

Flipping Houses

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