What You Need to Know if You Are Buying a Flipped Home
If you’re looking at a home that has recently been flipped, keep the following things in mind.
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If you’re looking at a home that has recently been flipped, keep the following things in mind.
Bright corner-unit one bedroom condo. Updated with an eye on classic style and a nod to modern tastes. Golden bamboo floors, stainlesssteel appliances, subway tile and in-unit laundry. At the center of it all: two blocks to the Pearl District, moments to NW 23rd Ave, on thestreetcar line, convenient to shopping, restaurants and groceries. So much at your fingers tips one could leave the car parked. Come live thecarefree in-town life.
Maybe you have a close family member living in Mexico. Or perhaps skiing in Vancouver is your favorite winter vacation spot. Maybe you have a child attending school in London. Or maybe you want to retire to the small town in China that your ancestors are from.
You look at the palm of your hand and you can almost see it, the glistening, sense-of-security-giving key to your new home. You’ve planned out your budget, you’re on track for mortgage loan approval, you’ve thought of neighborhoods, you’ve called the agent, you are pretty much set. But then you figure, wow, what kind of home do I really want, is it a condo or house?
Home prices are still out-pacing incomes. Inventory is down 10.4% from a year ago. It’s the lowest home supply since NAR started tracking it in 1999. Homes are on market 34 days comapared to 41 days last year at this time.