Watching asking prices drop on flipper properties–those bought and sold within two years, according to real estate agents–has become a sport in the Sacramento real estate blogosphere. By filtering official Multiple Listing Service (MLS) data, the blog Flippers In Trouble tracks every area flipper–those who bought a home in the last two years–and reports who is trying to sell his property for less than he paid.
So, uh, I guess congratulations are in order? After 1 or 2 or 1,348 listings don’t you sort of get the picture that folks are having a hard time flipping properties? It’s a down market, we get it. I wonder if sacbee.com sponsors this Web site because they love them some piling on about the housing market.
UPDATE: Turns out we aren’t the only ones with the market cornered on snark. The folks over at Sacramento Land(ing) are having some fun with this post, too. Nice work, guys.