Years ago, at the height of the market, there was a surge of investors and contractors purchasing and ‘flipping’ houses in record amounts.
Now, as the market is seeing an increase in the number of home sales, we are also seeing a rising trend of foreclosed/distressed properties being purchased and then sold just months, or years later.
This property located in Mill Valley on Stadium Way was acquired a few years ago as a bank owned property and is now in contract, list price $699,000. The sale price in 2009:$460,750
This is surely a sign that the market is turning, although it is unlikely that investors/contractors will be able to flip houses at the rapid rate they were a few years ago. Only time will tell..