Flipper flopped
Wed Dec 26 2007 12:08 am
by Bob Morris.
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.
Posted in: Credit crisis.
Tagged: real estate flipper
Comments subject to deletion at whim of capricious webmaster. Disagreements are ok. Flames, trolls, and right-wing attacks are not. If your comment doesn't appear immediately, then moderation is on, thus there's no need to re-send it.
(However sometimes the anti-spam programs here go awry. Email us if your comments seem to vanish into the void.)
