House flipping makes a return to the Reno-Sparks market

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Interesting article in the Reno Gazette-Journal on the rise in the number of properties being “flipped” — a 62 percent increase in the first-half of 2012 over the same period last year.

Read the story here: Reno-Sparks sees rise in flip sales

About Guy Johnson

I am a licensed Nevada REALTOR® living and working in Reno, Nevada. Give me a call at 775-722-4011. My team and I will be happy to assist you with your real estate needs.
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13 Responses to House flipping makes a return to the Reno-Sparks market

  1. BanteringBear says:

    The greater Reno-Sparks real estate market has, again, turned into an unsustainable speculators feeding frenzy. This is merely a distortion before another very painful leg down. Anyone foolishly buying into a “recovery” will be sorely disappointed. One brief look at the local unemployment rolls tells the real story. Worldwide, all housing bubbles have finally peaked and are now in full correction mode. The global depression is well underway. That’s why Bernanke pledged unlimited QE. He knows how terribly bad things are. The idea that Reno real estate will be recovering through this global meltdown is more hilarious than words can describe.

  2. Twister says:

    Good stuff, Guy and an interesting report! Is it a realistic game of hot potato or are investors just a little too jumpy for their own good? Only time will tell. One thing is for certain, if I’m analyzing this data right, investors in Nevada real estate are more skiddish than the rest of the country in general.

  3. MikeZ says:

    When’s the next leg down Bear? Go ahead and call it …

  4. tyler durden says:

    happy days are here again or is impending inflation?

  5. BanteringBear says:

    The second post bearing my nickname was not by me. It is likely the spoiled child from upstate NY who lives off mommy and daddy.

  6. MikeZ says:

    Well, Bear, prices look pretty stable right now in Reno. Unemployment is still high but also stable and median price is in line with median household income … so I don’t see why there would be another leg down, unless the economy suddenly turns worse.

    Why not take a few minutes and explain why you see a “next leg down” and when?

  7. tyler durden says:

    bantering bear must be miserable because of this rebound

    his whole identity is pinned on doom and gloom

  8. BanteringBear says:

    I think it’s time Guy did something about the fake posts. This is my third post in this thread, and Guy can clearly see this by my e-mail address. I have a feeling that MikeZ is also being impersonated, though I’m not sure. Please delete the fake posts, Guy.

  9. Guy Johnson says:

    BB, I believe I have removed the posts that were posing as you and MikeZ. Let me know if you see any that I have missed.

  10. MikeZ says:

    Thanks, Guy, you missed one: “September 23, 2012 at 6:38 PM” is not me.

  11. Guy Johnson says:

    Thanks, Mike. I took care of it.

  12. Lou Getz says:

    As a licensed public adjuster in the Reno area, it’s unfortunate more flippers don’t utilize adjusting services such as National Claim Advocates, 775-375-5467, to assist in properties that consistently have damage that may be covered under the prior owner or the bank. The only one that makes out on those losses is the insurance carrier as few folks that flip know how to address those claims.

  13. piotrsko says:

    Why make it EASIER for flippers to make more money? It is not like they are preforming Pro Bono public service for the welfare of the public.

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