House flipping making comeback.

[flippinout]

Its been 4 years since the real estate market collapsed, and now house flipping is making a comeback in a big way.

More and more people are attending foreclosure auctions in which they are buying homes to flip and resell.

Now, a different breed of flipper is proliferating: one who seeks bargains at foreclosure auctions. Unlike the boom-time flippers, the latest generation needs cold cash, lots of local-market knowledge and strong nerves.

The sales that are being attended by the new "breed" of flippers is called Sheriffs Sales or Trustee Sales and it is estimated that there are 639,000 foreclosed homes for sale across the nation. With most being located in Florida, California, Arizona and Nevada.

The banks dont always get the full amount of the mortgage cost from these sales but then again, they dont have to make repairs to these homes or see to the upkeep of them either.

[troubles74]

I tell you something around here I know that it is summer and beach weather,but people are filling up the empty houses around here.This to me means that things are getting better some what around here at least.

Anything possitive at all is good to see and hear right now,things have been down and out for a little while now,it is rally good to see things take off again.

Maybe I will look for a flipper house for myself right now,see if I can make and extra dollar on it.