Home Sale Prices Vs. Appraised Value: Why That Matters to You
So the home sales prices in #realestate for #GrandRapidsMI are going up. Obviously. But what about appraised property values? Are they going up, too? Perhaps, but they certainly won't be catching up with the skyrocketing prices, and that's a major turn-off for home flippers.
GR has been seeing multiple offers on listings these days — major competition for the everyday home flipper when you think about it. After all, if the sales price ends up being way more than the actual appraised value, there's not much chance of that home flipper increasing the value that much more to sell for a profitable price, minus the time and investment.
So here's some advice — don't flip houses in GR. This is one real estate economy going to the home buyers and sellers of a community. No home FLIPPERS here.
Not that house flipping is necessarily a bad thing; after all, it’s a natural lucrative phenomenon in the real estate industry all over. Check out Midvale, Utah, for starters, with the real estate funding and cash loans to flip a home and make some profit while stimulating the market.