House flipping back in vogue in North County San Diego

By Edward Harrison On Dec 15, 2009

Good times are here again in residential property. House flippers are back and have now moved to foreclosure auctions. Below is a house that was bought in foreclosure at $945,000 in November and is now on the market for $1.4 to 1.5 million. 4100 square feet and swimming pool. Fairbanks Ranch. Cheapest house in the area too. What’s not to like?

Jim the Realtor does mention some serious imperfections though. Take a look.

See also House Flipping Makes a Comeback from the Wall Street Journal.

Update: and if you missed the courthouse action, this video from last month shows how the flippers get their properties.

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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5 Comments

LavrentiBeria says 15 years ago

And in some quarters people actually wonder why so many despair of capitalism. For God sake, these were someone’s homes, not simply the stuff of some avaricious snake’s gluttonous appetite. I swear, the only thing in this crisis lower to the ground than a politician is a real estate speculator.

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