Signals of a hot market getting hotter have been observed. Huge interest is showing up for any bungalow rehab opportunity and multiple bids being placed is common. It seems like there isn’t much inventory of homes available for the fix and flippers to flip. Same issue with infill lots coming to market at reasonable prices, they are selling quick. I feel this optimism is a bit much considering how hard it is to actually finish any project, and how costly the materials can be to source. All of these sales now are homes that will need to be completed and resold in 2022, does this suggest the market jumps up a bit in the spring as these high cost projects come to market with big price tags? Looks to be so.
What happened here? Almost 80 k over asking. I liked this project as well. A solid rehab and a very livable up down unit. But what I don’t like is throwing another 100 k at this renovation and if you can even do it for that suddenly the numbers don’t look as attractive.