{"id":14683,"date":"2011-03-08T07:00:58","date_gmt":"2011-03-08T15:00:58","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=14683"},"modified":"2011-03-08T09:35:15","modified_gmt":"2011-03-08T17:35:15","slug":"cheapest-home-flip-prediction-i-was-wrong","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2011\/03\/08\/cheapest-home-flip-prediction-i-was-wrong\/","title":{"rendered":"Cheapest Home Flip Prediction: I Was Wrong!"},"content":{"rendered":"

In last week’s Cheapest Homes post<\/a>, I said:<\/p>\n

I predict that at least one of these will pop back on the market within six to nine months as a rehab flip<\/a>. Number two seems like an especially good candidate.<\/p><\/blockquote>\n

The home I was referring to as “number two” was 5110 S Medley Ct<\/a>, a 2,700 square foot 3-bed, 1-bath home built in 1921, located in the south Seattle neighborhood of Brighton.<\/p>\n

It turns out I was wrong! The buyer of this home is actually an occasional reader of this site, and after reading my post they set me straight<\/a>:<\/p>\n

Tim, this is crazy \u2014 We bought the #2 house that you mentioned as most likely to be flipped! I didn\u2019t think I would ever own a house in Seattle, but the prices dropped enough to take the plunge. It needs a ton of major work, for sure, work that rightfully scares most buyers away, but we paid cash and plan to fix it up and move in later this year, and then have a home mortgage-free near a light rail stop.<\/p><\/blockquote>\n

\"Stephen<\/a>Not only that, but they’ve got a blog where they have begun documenting the process of restoring this cheap house and turning it into their family home: Stephen and Vivian House<\/a> already has six posts, and they only just closed on the house two weeks ago.<\/p>\n

Frankly, this is one instance in which I am quite pleased to be proven incorrect. I’ve added the blog to my RSS reader, and will be following with interest. I love the plan to buy a cheap fixer to restore to glory (I may have seen “It’s a Wonderful Life” a few too many times), and I love Stephen and Vivian’s initiative to take on such an intimidating project. Congratulations, and good luck!<\/p>\n","protected":false},"excerpt":{"rendered":"

In last week’s Cheapest Homes post, I said: I predict that at least one of these will pop back on the market within six to nine months as a rehab flip. Number two seems like an especially good candidate. 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