Welcome to the Nightmare...Jump in, the water is warm!



It’s story time again folks & it’s a real scary one this time!
  The previous owners were also the original owners having purchased it in 1971 so they made out like bandits! Unfortunately this seller is losing their shirt!
  Fast forward to 2 days ago…
  So this seller is in deep shit! Even with the renos, the value of this home is less than what they paid for it based on the sales for similar properties in the last 3mos…which were all under $500k!
 
Yikes! This is Cautionary Tale 101 when it comes to house flipping! And also a prime example of the kind of fallout we saw a lot of late last spring & summer after the Fair Housing Plan was introduced.
 
So what should this seller do?  HOLD IT! RENT IT OUT!! STOP THE BLEEDING! Geez it’s not rocket science!
 
I’ll let you know what happens…

**This story was originally sent out on January 24th to my Daily Update peeps! If you would like to start getting my daily email too, just shoot me a message! M-W-F are real estate stories, either that I've written myself or that I consider share-worthy, & T-Th are new listings**