The real estate market used to be considered as an excellent investment opportunity to either hang on to for tears, until it was time to sell for a tidy profit, or to fix and flip.
However, an overabundance without buyers could mean the end of easy money for re-sellers as I found out recently. I recently met with a couple of professionals, who did not deliver the good news I was expecting.
Last year, flippers saw seven-figure gains within 18 months of buying their properties, according to data compiled by listings of online websites. However, the future may be uncertain.
The biggest flips occur at the outset of a boom, when prices increase rapidly. Real estate agents and brokers we spoke with believe that the market is being saturated, which is leading to longer sale times and smaller price gains. Here is a link, which may come in handy for a second, or third opinion.
TopAgentsRanked is a division of ReferralExchange, the nation’s top real estate agent referral brokerage. Since 2005, they claim to have over 250,000 successful connections between a buyer, a seller and a Realtor.
Property market about to 'go bananas' http://nzh.tw/11582668 via @nzherald