Posted by Mark Washburn on Wednesday, January 13, 2010 at 6:29:48 AM By Mark Washburn / January 13, 2010 Comment
Time Magazine covers the re-emergence of flippers to the Florida real estate market. We have certainly seen this in the Fort Myers area, particularly in the entry-level single-family home foreclosure market. Cash paying investors have bought up significant quantities of the inventory below $100,000, making it challenging for regular homes buyers with a mortgage to compete. The Time article suggest that today's investors are "good" flippers, as they are helping to clean up foreclosure messes and also are holding longer than bubble era flippers. The article reports that during the bubble many "cocktail party" investors bought at any price irregardless of whether or not the deal made economic sense.
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