This condo flip doesn't look like it's going to end well.
Previous sale price: $225,000
Current asking price: $255,000
1900 N Northgate Way #H1908
Seattle, WA 98133
http://www.redfin.com/stingray/do/print ... -id=760171
Figuring they financed it with a 1 year arm at 5.5%, + taxes and dues the carying cost alone was $17,500.
I saw this place last year and it was full on 1970's interior back then, so I'd guess they spent more than $12,500 on the remodel.
Figure 6% selling costs at $15,300, all that "sweat equity" earned them was a sore back.