…With home prices back on the rise again, many markets are seeing flips on the upswing.
Homes that were purchased and then resold within six months accounted for 4.6 percent of all U.S. single-family home sales during 2013, according to RealtyTrac’s fourth-quarter 2013 Home Flipping Report. House flipping was up 16 percent from 2012 and up 114 percent from 2011, the report shows. Read the rest here:
Last year I had listed 5177 Princess Anne Rd, in La Canada for $1,595,000. I had dozens of offers. The highest offer was quickly blown out of escrow after he wanted to negotiate hundreds of thousands of dollars for repairs which were evident at the time and also disclosed in writing. Fast forward we closed in 22 days for cash, the buyer paid $1,725,000 and the home is now on the market for $3,295,000 and in my opinion worth every penny.
This is a beautiful La Canada flip! The flipper/investor added a wall between the living and dining room, so the home no longer had a bowling alley floorplan. The wet bar was removed and the kitchen enlarged, the cheesy spiral staircase was replaced with a traditional staircase.
If you are interested in viewing 5117 Princess Anne or homes in La Canada, give me a call.
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