I am really surprise to see a real estate investor flipping houses in this housing market. Five months ago, I saw a house a few blocks from my apartment at the corner of Wiley X St. and Paramount Blvd. The sign was “For Sale By Owner.” It was sold in only six months so I am assuming that it was done. I went to Zillow and found out that the house was sold for $400,000. It is a two bedroom and 1 bath house in a corner lot. It has a very big back yard and the lot size seems like it is a quarter of an acre.

I thought at that time that the buyer is just fixing it for his/her own use. I saw contract workers changing the floors, fixing everything on the inside, and painting the outside. And then just a couple of days ago, there is a sign outside stating that it is “For Sale By Owner.”

Bad time to flip a house on this real estate market that is on a downhill. That real estate investor will surely take a big loss as the median price of a house in this community has gone down big time. I believe it is at $400,000. Let’s see, he bought it at $400,000 and have it fixed for an additional $50,000 but it would probably get sold next year at $350,000.