Wednesday, April 4, 2007

Flippin' This

I've tried to adhere to my self-imposed policy of not taking particular listings or agents to task on an individual basis. But I'm willing to make an exception in this case.

Since the beginning of February there have been 6 listings in one building in town-5 units, one listed, taken off, then re-listed to set the DOM at 0. Another beef of mine, but I'll leave that one alone.

Here's the building:

She's a beauty. I actually knew someone who lived here 15 years ago... still looks the same on the outside. And he loved the four flight exterior stairwell with the laundry basket and bags of groceries plus case of beer. But apparently the inside of some units have undergone a dramatic transformation making them sought after homes.

Here's your MLS links: 1, 2, 3, and 4.

Now I know the banks have been calling every homeowner in town offering great rates on HELOCs, but could it be that 5 unit holders in 60 days in one building bought into the plan... or is this the work of flippers? Just asking is all...

1 comment:

Vicguy said...

There is a video posted on that is a must watch to get a true perspective on where we are in the big picture. Put on the seat belt and pull out the barf bag.