Shawn Simpson of Styl Properties, Inc. believes the strong returns for home flippers demonstrates that there is still a need in this recovering real estate market for homes move in ready rehabbed to modern tastes.
Yet, LAWEEKLY is blaming flippers, in part, for the housing crisis. “There’s a lot of blame to go around when it comes to Los Angeles’ housing crisis. Take your pick: greedy landlords, upscale developers, NIMBYs opposed to greater density, chickens–t political leaders and newcomers.”
A new report from real estate website Trulia fingers another possible culprit: house flippers. They say that flippers buy a house under the market, add the amenities homebuyers want, such as granite counters and under counter wine cabinets, then sell the house at a higher price taking that house out of the pool of houses sought by those who want to use sweat equity to get into a cheap house. That’s a stretch, in my view.
Flippers are free to buy houses under the market like everyone else. Sure, we add to the competition to an underpriced market, but that’s just the free market. What flippers are more likely to do is provide a convenient buying place for homeowners under the gun to sell fast.
Flippers are there for homeowners who are going through a divorce who want to sell their house fast and move on. They don’t want to spend months locked into a house waiting for it to sell. Flippers are there for families who lost a family member and inherited a house. They might live some place far away and it’s too inconvenient and costly to fly back and forth to sell a house. They want to sell right away. Flippers are there for families facing foreclosure and need to sell fast and maybe find a way to repair their credit. And flippers are there for homeowners who want to sell, but have costly repairs to make. They want to sell as-is.
Flippers buy houses in neighborhoods that have been in decline, where crime is high. We reclaim neighborhoods that become great places to raise a family.
“Another change in the landscape, says Mortgage Specialists LLC, is house flippers increasingly are selling their homes to other investors or to second homebuyers. This may be due to the very strong single-family rental market and large-scale institutional investors who have now established management structures and are looking for turnkey homes to rent.”
We are Styl Properties, Inc. here to help homeowners out of any kind of distressed situation and potential homeowners find their dream home. As investors, flippers or rehabbers, whatever you choose to call us, we are in business to make a modest profit on any deal, however we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. Just the simple honest truth about your home and how we can help you sell it fast to resolve any situation.
Give us a call today at 402.909.0686 to let us know what YOU need help with!