The Flipping Pad

Posted by Nikki H. on Oct 16, 2009 9:47pm

These days when it comes to real estate, as much as any time in the past, people equate “fixers” with “deals.”

And, they aren’t wrong, although a fixer by 2009 standards can often be quite a project. Why? Because so many homes now available are coming from a distressed situation.

A distressed situation is one where the homeowner lost the home, or was underwater and for whaever reason is selling, or no longer owns the home. Unfortunately, in such cases, ownes are stripping or vandalizing the homes as they leave, and the resulting fixers are more like “rebuilders.”

Yes, it IS illegal for the owners to have removed appurtenances of the home or stripped or vandalized the home. In the future, it is possible that banks will pursue such owners for the additional loss of value they suffered in the wake of stripping.

In the mean time, fixers abound, and you, too, can get in on the “deals.”

It’s not uncommon to see homes in Sacramento and the surrounding county priced at well under $100 per square foot.

If you want to find a deal of your own, contact me, Nikki Holmes. I am Team Manager of The Gold Rush Group. I have expert knowledge of the Sacramento area real estate market.

You can reach me by email at: Nikki@GoldRushGroup.net

Also, visit my web site: http;//www.GoldRushGroup.net

Or call me at: 916-941-5655

Oh, and if you’d like to read another blog posting on how to find fixer upper properties, try this article:

http://www.mainstreet.com/article/moneyinvesting/real-estate/how-find-fixer-upper

Your friend in ALL THINGS real estate, Nikki Holmes