Our Cromford Report Friends also track flips in the market, which is telling us a lot —specifically, they’ve driven prices up so high now that they can’t get their margins and they are getting out.
Chickity-check this out. See the first of these two slides. (The next comes in the next post, so check back). They show how the number of flips per month has dropped 30%.
What does that mean? The flippers have realized that they have pushed prices too high and buyers are not giving them the margins they want.
What does this mean for you?
SELLERS: Don’t try to do a flip right now unless you bought really, really, really cheaply!
BUYERS: There are a lot of terribly-done flips out there. But if you are willing to look, you are in a stronger position to make those flippers drop those prices. We are not talking about 10% discounts here. But if you
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