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.

Th Wong,

I doubt it. I know a couple of Phoenix investors ("flippers") living here in the Bay Area; they were blue collar types, not exactly Palo Altans.

The Fortress has a different dynamic all about rich immigrants, dowry money, etc. If the Chinese currency really is allowed to go up against the dollar that will probably make Fortress prices even higher, though it'll likely further stress the finances of Walmart shoppers like us, leaving us less money to "invest" in Phoenix real estate.

sybrib, i wasnt thinking of PA exclusively. Yes, there is plenty of others.

Fortress? Oh yes the new term to describe PA. In a historical context not so accurate.

Nomograph says

robertoaribas says

40% of buyers here have been cash buyers. MOST of these are short term investors/flippers.

You are just making this up. You have no idea who the buyers are, or what their time line is. Ever heard of a REIT?
robertoaribas says

I predict the flipped homes will begin to sit on the market in mass. Flippers are notoriously slow to lower prices, and many will chase the market down.

You are making future predictions based on an assumption that is likely faulted. This isn’t 2007 after all.

Normo I don't know about California but the OP described South Florida to the letter.
The problem with Hollywood Fl. is I'm sure all of the "A" stock is already owned by "Realtor/Investor/Flipper" marriages. While houses in the surrounding cities are dropping like the pants on a Prom date, Hollywood is still hiding inventory, and posting the same ridiculous prices that will never, ever sell at those price.

I bet Hollywood is waiting for better financial times, and hundreds of blocks in Hollywood Florida will be leveled and condos and multifamily homes will replace them. That makes since, because that's what the city/developers/planners were trying to do, before the bottom fell. with in a one mile radius of me, there are at least a twenty isolated multi family McCondos, nestled in between single family old Florida style ranch houses.

robertoaribas says

Also, I am showing homes all the time. In the 150K to 250K price range, over half the homes I show are flips. I look up there tax records and see that it was bought at auction, or off the MLS in the past 3 or 4 months. [plus the listing says so]

lol--personal experience is not a fact.