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Wednesday, October 27, 2010

Got to Love Flippers in this Market...

Flippers had their glory days a few years ago.  Buying and selling real estate for huge profits.

But still, even in this buyer's market in Brevard County, Florida, my appreciation for flippers is still very evident.

You see, in many of the developments in Brevard County you can find a foreclosure (or several).  Many of these are being snatched up by investors who intend to flip for easy money.  Some even become for sale by owner properties because "buyers know they can save money by buying directly from the owner." [Far from the truth, in my opinion!] 

So, why do I still appreciate flippers in Viera, Suntree, Rockledge and other parts of Brevard County, Florida?  Simply because they still want to get a reasonable return on their investment.

But the margin for profit is slim when flippers must compete with short sales, foreclosures and motivated fair market sellers!  Thus they often price high(er) than the others which only goes to highlight the other values in the neighborhood!

There is a difference between serious investors and flippers.  Knowledgeable investors will always be keen competitors in this market and will price accordingly.

Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

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