This year's buzz in real estate is 'flipping' -- buying, renovating and selling houses in a matter of months. It's not an amateur's game -- but that doesn't stop them from trying.
By Forbes.com
The booming real estate market is driven by historically low mortgage rates, solid employment growth and brisk demand -- not wild speculation.
Flippers -- those who buy a house and quickly sell it at a profit in a hot market -- are active, but there are no definitive nationwide statistics compiled on the number of mortgages turned over in a year or less. However, the number of flippers appears to be small.
The Federal National Mortgage Association, known as Freddie Mac (FRE, news, msgs), a congressionally chartered corporation that buys mortgages on the secondary market, pools them and sells them as mortgage-backed securities to investors on the open market, says homeowners held a house for an average of seven years in the first half of 2004, compared with 6.5 years in the first six months of 1999.Start investing with $100.
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Style Weekly: "the politics of fear and a growing racial divide still cripple Richmond [Virginia]." Mayor Douglas Wilder: "a cesspool of corruption and inefficiency." Ninth most dangerous city in the US. The state claims that "Virginia is for lovers" but the General Assembly passed a law "which some contend is the most anti-gay legislation in the country." (Style Weekly) And don't get me started on Henhicko County, Native American for "land of the hicks." Now at www.richmondsucks.com.
September 14, 2005
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Links
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About Me
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- "...the quintessential everyman, he's a little bit of everything that we're all striving for... mostly the search for the truth in our lives. From poignant notions of love to our own inescapable lascivious tendencies, from mundane to the outlandish, on that journey we face tough questions, but even tougher decisions. He'll take you on his journey and back, he won't promise you enlightenment (who can?), but you can at least be assured of a good time. Thanks..." - boyzco
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