Flipping property in Palo Alto?
Posted on March 30th, 2010 by admin
I am in contract to buy a condo from D. R. Horton and want to sell it now. The builder just released a new group of homes for sale at a greater price. What do you think about the chance to make money on the deal?
A greater price means a higher price.
If the builder is releasing new groups of homes at a BETTER price, it means the market has softened, and the properties aren’t worth as much as they used to be.
Therefore, your chances of selling at a profit are probably very low (why would someone pay a premium to purchase from you when they can get a better deal from the builder?).
Such is the danger we’re all aware of when we buy pre-construction properties.
March 30th, 2010 at 11:27 am
If the builder is releasing new groups of homes at a BETTER price, it means the market has softened, and the properties aren’t worth as much as they used to be.
Therefore, your chances of selling at a profit are probably very low (why would someone pay a premium to purchase from you when they can get a better deal from the builder?).
Such is the danger we’re all aware of when we buy pre-construction properties.
References :
March 30th, 2010 at 11:47 am
Things are pretty slow in Palo Alto. Unless you are talking about either the top of the market or the bottom I would pass.
References :