patrick.net

Flippers buying from other flippers... haha. I remember thomas.wong1986 called this horse-trading :)

Are those phoenix AZ specific data or what's happening thrughout the US?

Could you look up the trend/data for let's say zipcode 22152, where I am keeping my eyes on?

robertoaribas says

some out the cash buyers are out of state, but not as many as years ago. Most are local flippers, many who do multiple flips at a time.

As far back as 2004 published reports called Californians taking equity out of their homes and buying up out of state property, sometimes 2-3 homes. They were called Equity Locusts. Yes we are sure connected across state lines. Certainly may have put owners primary residence in Palo Alto at risk.