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Watch: The return of house flipping
A bump in well-priced foreclosures has brought many real estate investors back to the market.
Tue, Apr 03, 2012 at 11:44 AM
House flipping is a dirty word in some markets, with many people laying partial blame for the housing bubble at the feet of real estate investors looking for a quick flip and a quick buck. The bust drove many real estate investors into
hiding but they are starting to reappear in more frequent numbers due to the influx of well-priced foreclosure homes on the market. In fact, investors buy approximately 25 percent of homes sold today.
In this CNNMoney.com video, real estate investor Laura Abbott talks about her current project, a $180,000 3 bedroom, 1.5 bath home that she will flip into a 5 bedroom, 2.5 bath home with a $450,000 price tag. Although reducing the foreclosure inventory may seem like a good thing on the surface, these houses can push out first time home buyers and may even be contributing to a future rental property bubble.
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