Audacious Flips and Renovations cont'd

[czarmar]

Here's a flipper in my neighborhood in south Federal Way near Enchanted Village. I watched it when it was marketed by the bank a few months ago, and saw it bought for $175K at the end of January. The flippers stormed in with paint and granite countertops, and a little more than a month later, they will be happy to sell you this house for $275K!!

http://www.redfin.com/WA/Federal-Way/25 ... ome/362948

[WestSideBilly]

Some people still haven't gotten the memo.

http://www.redfin.com/WA/Seattle/3550-S ... ome/150722

Sold Jan '08 $607000
Listed Dec '08 $849500

Stand granite/stainless refurbish. Pink Ponies alive and well!

[deejayoh]

[ira s]

Why does anyone put the statement "instant equity" in their listings these days?

Because real estate agents are really slow learners?

[rose-colored-coolaid]

[WestSideBilly]

[tomtom]

Jan 30, 2009 Sold $220,000
Mar 25, 2009 Listed $298,950


Bungalow shell house ready to be adapted to whatever ideas you may have. This house has a new roof but is open to bare studs otherwise. A plan has been drawn for a classic bungalow 3 bedroom arrangement within the existing walls. This is approximately a 5000sf lot. Owner is a licensed elecrician but house is being sold as is with no waranty given or implied.

Charging $78,950 for gutting the house.

http://www.redfin.com/WA/Seattle/6042-7 ... ome/493931

[Civil Servant]

This house was sold, to what looks to be a renovation outfit, in September of last year for $493K.

Now it is back on the market at $789K.

http://www.redfin.com/WA/Seattle/4550-P ... ome/320107

You've got to admire the moxie, I guess. Listing ppsf is $451, a 53% premium over comps. Best of luck to you, NGS Partners LLC.

[Thomas B.]

[FreedomLover]

[tomtom]

[tomtom]

[EconE]

Found a couple "interesting" ones by a flipper with a cave fetish.


http://www.redfin.com/WA/Seattle/1610-P ... ome/150837

http://www.redfin.com/WA/Seattle/5322-4 ... ome/152379

Got Grotto?





Nice floors!

[Justin Case]

http://www.redfin.com/WA/Seattle/6034-7 ... override=1

May 12, 2009 Price Changed $409,0001
Apr 13, 2009 Listed $425,000
Dec 04, 2008 Sold $256,000
May 26, 2004 Sold $300,000

What did they do in 4 months to justify that $169k markup? I don't know, because there are NO photos of anything other than the exterior or the kitchen. someone was kind enough to dump their shoes in the kitchen before the photo was taken, though:

http://media.cdn-redfin.com/photo/71/bi ... 31_1_5.jpg

[Justin Case]