House flipping back in vogue in North County San Diego

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.

  1. LavrentiBeria says

    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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