Saturday, March 05, 2005

White-Hot White Mountains Arizona Real Estate - Cashing In

Cashing In Real Estate

You don't have to be Donald Trump, but you have to be smart. It's called "Flipping"-- kind of a loose term newly applied to the practice of buying residential property, waiting a bit, and turning around and selling it at a tidy profit. Sounds easy, doesn't it? Well, for some, the practice has made millions. Does it help to have deep pockets? Well, when doesn't that help? Sure. But, for canny buyers who do their research and use sharp Realtors, almost anyone can play.

A recent survey performed by the National Association of Realtors shows that 25 percent of home buyers do not intend to ever occupy the home they just bought. They intend to turn it around quickly for a quick profit.

The real estate market across the country is red-hot-- in the White Mountains of Arizona the market is white-hot. Blazing. Recently a local appraiser was heard to remark that he was having trouble keeping up with the rapidly rising residential prices. Realtors are talking about clients buying homes "sight unseen". It's that good. And it's that true. Even Bruce & Pam, Your White Mountains Realtors are amazed.

So, is "flipping" right for you? First, do your homework on the web. Then, make a visit to the White Mountains and spend some time. Talk to us about neighborhood markets, hot areas, comparable sales, projected sales, average time on market, whys and wherefores. Make a business plan. Decide how long you want to wait to "flip". Be reasonable, listen to good advice - your attorney, your accountant, your realtors. And ask us about others who can joint your team - inspectors, contractors, etc. Don't jump in without a plan and don't go anywhere without your team!