Apr 7, 2010

House flippers a good thing for the market?

During the boom days and in initial days of the bust - the "dreaded" houseflipper was a "bad person"; and unwanted character in the whole real estate landscape. But now with the real estate markets the way they are and the unemployment picture what it is - it seems like now these flippers are a welcome sign to the markets. 

A recent Business Week article talks about the number of foreclosed homes that are changing hands within 6 months of being purchased is a sure sign of flippers getting in on the action.

PrivoCorp - the best contract mortgage processing company in the country for FHA loans -has been seeing a lot of previously foreclosed homes coming back in to the market and being purchased in a short time frame.This is an obvious sign of good things to come in the future.

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