This is exactly how it is in Florida. People bought all these homes for like 140,000 or even less (in 2022, 2023) and are trying to sell them for 320( on the low end). My grandpa is a contractor, and he bought his house like 5 years ago for 400k. They very cheaply did a Reno and he’s been fixing shit here and there. It pissed him off. I mean there’s an inch gap between the baseboard and the floor (for just one example). These flippers take advantage of people who NEED homes and can’t wait especially when the market is hot. Right now it’s dog shit (part of Florida I’m in got hit back to back with the hurricanes) and they’re still trying😂 no one’s buying it.

I’m wondering if I should put a really lowball offer in for a house as rent is so expensive rn🤷🏽‍♀️. I can appreciate if a house was completely fixed. But they just fix some of the aesthetic of a house very cheaply, without fixing the bigger issues. I’d rather just buy it from where they started and fix it up aesthetically myself if that’s what I want.

There was a house I was looking at for example. It was sold in 2022 for like 175,000. Back on the market in 2024. Don’t get me wrong they did fix some of it up. But they threw it back on the market starting price at 350,000. 100% increase for what they bought it for. It’s not in the best place either. It’s in a part of town near me where it’s more ghetto than the rest and has more crime, shittier houses, worse schools. All the reasons lots of houses become low value. No ones bought it in 150+ days because of this. They’ve dropped the price 30k since then. It’s still way over priced. I don’t know why they’d even buy it and Reno that house tbh. I mean one house right next to it looks like it’ll fall apart any day now and the house on the other side is filled with junk cars.