An article in the Tribune shows a home seller complaining about home builders undercutting his price. The article takes an unexpected turn in the comments section where one anonymous commenter says the guy was actually a flipper.
Now that’s interesting. And if the comments are any measure, there’s not much sympathy for a flipper who loses money on a house.
If indeed the guy was a flipper he could have made a ton of money on other homes during the boom. Apparently he stayed in the game too long.
If you can control when you sell, you’re fine. Then the worst case scenario is that you have to keep living in a beautiful new home.
I do indeed feel sorry, however, for those who unexpectedly have to sell through no fault of their own because of divorce, illness, death in the family, job loss or job relocation. If you can’t choose the time when you sell, you might have to sell at a bad time.
{ 2 comments… read them below or add one }
bbryan 03.23.07 at 12:33 am
The guy is definitely a flipper. The county records tell me so.
Ken44 03.23.07 at 11:07 am
He gambled and lost.
Now assuming the renting will not cover the cost he can dump the property and take the hit or if possible absorb the monthly loss and hope by 2009 he can at least break even.