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A Writer's Den: Residential Real Estate 101

Wednesday, June 30, 2010

Residential Real Estate 101

credit: SteveLuker © istockphoto.com/SteveLuker

A Modern Day Breeding Ground for Your Everyday Hustler

The housing boom not only increased the number of first time homebuyers, it created a breeding ground for your "everyday hustler". From your overnight investors to flippers and equity skimmers, all qualify as hustlers. Now that the housing boom is over, the housing burst has revealed the innocent homeowners that fell victim to the everyday hustler. So before you even think about purchasing a home, you need to learn the ins and outs of the everyday hustler.

Flipper
There are two different kinds of flippers. The legal flippers that actually fix up houses and sell the homes at a profit based on the improved value. And then there is the illegal flipper, which you should be wary of. The illegal flipper makes no improvements to the property, but falsifies an appraisal by stating that the subject property is worth far more than the actual value. READ FULL ARTICLE: Residential Real Estate 101: A Modern Day Breeding Ground for Your Everyday Hustler

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