Flipper flopped
Bob Morris @ Dec 26th 2007 00:08 - Category: Credit crisis Tags: real estate flipper
New condos in this development are priced from low $500’s to high $600’s, yet this owner is selling for $425,000 and says ‘never lived in.”
Sounds like a flipper in trouble, and there are tens, maybe hundreds of thousands in similar straits. In debt over their head with an investment that is losing value, maybe with an ARM about to reset higher.
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