A few years ago you could buy a house, live in it for a year and make $100k. Here's a owner that thinks those days have returned.
3140 Crestview Dr. Norco. The homes sold one year ago to the current owners for $515k. After one year of ownership for what ever the reason the new owners need to bail. I doubt these are flippers since they have horses. Flippers don't bring horses to a flip, they bring paint, carpet and sod. Apparently it's upgraded beyond belief! Although the pics show basic white tile and builder grade cabinets in the bathroom. I have no idea if they poured any money into this or not, but after a year in the home these folks think they are entitled to $115K. Any think these guys have a hope in hell? There's been a few flips sell in the mid $500s recently but those were much larger homes. I'm thinking if they can get out for what they paid they are doing great.
3 comments:
This flip I've been watching finally sold. What a profit.
http://www.redfin.com/CA/Riverside/6158-Bluffwood-Dr-92506/home/5024310
At least that one looks like a total remodel. Still looks to be a good payday for the flipper though.
Here's another one in Dos Lagos.
Comps be damned, this one is "special". Bought Jan 09 for $450k now listed for $570k?? Good luck with that. No recent comps of this floorplan but the last half dozen of them sold in the low $400s last year. There was a short sale a few weeks ago that was listed at $425k. It looks like the delusional sellers are coming back.
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