…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 listed 5177 Princess Anne Rd, in La Canada for $1,595,000. I had dozens of offers. We blew the highest offer out of escrow swiftly when the buyer expressed his desire to negotiate hundreds of thousands of dollars for repairs that were evident and 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. Thus the home no longer had a bowling alley floorplan. We removed the wet bar, enlarged the kitchen, and replaced the cheesy spiral staircase with a traditional staircase. If you are interested in viewing 5117 Princess Anne or homes in La Canada, please give me a call.
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Valley Glen flip closed
