Flipping houses in a Buyers Market

[Bbqchef21]

I found this article at www.propertyflippinginfo.com. Could you all tell me what you think about it?



Flipping real estate properties continue to draw investors and other people wanting to earn quick money. But like any other form of investment, there are risks involved which, if not carefully taken into consideration, can give people more problems than profits. One of these possible risks is selling a property in a buyer’s market.

A buyer’s market occurs when there are more homes being sold which translates to more sellers than buyers. This leads to lower home prices due to an oversupply and less demand of residential properties. For investors looking for homes to buy, then this is a great time because many homes are for sale at very affordable prices. But for those selling a home, this situation
may not be very favorable.

Home flippers, though, should not be discouraged when selling in a buyer’s market because they can still succeed if they persevere and follow the right moves. The first step real estate experts usually suggest is to set a fair and competitive market price for your home. If you fail to price it right, your property may stay two to three months long on the market or will never be sold at all.

Don’t be afraid to offer incentives to your buyers. This can be in the form of appliances or fixtures which you can include in the sale of your home. For example, you may offer to give away an extra chair, side table, carpet or lamps. These things will surely attract first time buyers who are spending most of their funds in purchasing the home.

Another incentive you can offer is to shoulder part or all of the closing costs such as the credit report, title insurance, loan appraisal and property inspections. These may cover some three to five percent of the total cost of the property but it is a minimal amount and will still benefit sellers in the long run.

Have your home inspected by a professional before selling the property. In this way, you will have a certified inspection report ready for your buyer by the time you get his or her purchase offer. The goal here is to find out possible defects and have them fixed early before your buyer learns about them which may even cause them to back out from the deal.

Prepare your home and make it attractive if possible. Do some general cleaning and repainting especially of the walls and ceilings. Walls are among the first parts of the home that attract people when they come in so make sure that you retouch the paint before selling. Choose the neutral and light colors. Be sure too to let the sunshine in when buyers come to visit notably during daytime. A well lighted house promotes a positive atmosphere.


Clean up the front yard as well and get rid of all clutter to make the property appealing and spacious. Trim your shrubs and bushes and keep tools and bikes or toys out of sight. A good curb appeal is a great start in enticing potential buyers to purchase your home.

Finally, don’t despair when it takes a while before somebody purchases your home and don’t give in easily as well to buyers asking for a much lower price than what you’ve set. Patience is always a virtue.

[JaredfromIndiana]

Buy low, sell low. Period.

[flippinout]

Everything in that article is basically the same thing we have been saying here. The only thing I can see is that you may not get the price you want because of real estate problems going on right now.

[flip4u]

I would have to agree with ya flippinout the buyers market I think is so up and down right now but that to depends on where you’re located. My mother’s friend in Virginia is a real estate agent and it’s still booming down there.

[flippinout]

I would suppose that it comes right down to that saying, location, location, location.

I am going to contact a real estate agent here in our area and try to find out how things are going here.

I see that many of the brand new homes that have been recently built, are still sitting empty. So I am not sure if this is because of the rural location or the market.

[flip4u]

Your right Flippinout its all about location, location, location, I spoke to a
co-worker today who just recently moved into the area and said that she has flipped houses where she used to live and has attempted to do the same in this area but has little success. It would be good to know how the real estate market is doing in the surrounding area.

[flippinout]

I can see where there would be problems flipping houses in this area. I see so many brand new houses that have been built and still empty, so I dont think it would be profitable for house flipping around here.

Jobs in this area are mostly on a part time basis. Making it hard for people to afford the loans to buy. Plus, most houses are either in small towns, and I do mean small or in rural areas. This does effect things in this area.

Plainly, the economy around here isnt condusive to successful flipping.