Flippers in trouble…

Someone posted this in the comments: http://flippersintrouble.blogspot.com/

They *seem* to be tracking houses that were recently bought and that are now selling for less than how much the person paid. Would be great if they made a table of these houses–as well as some of the ones that have sold–so you could see some trends.

I wish someone was doing this in Los Angeles… .maybe Curbed LA can start a feature?

I wish brokers would be more transparent and have this information out there on their blogs/websites. Like, why isn’t there a list of the homes that have had the biggest price drops? I think more honesty and transparency in the marketplace would actually get some of the buyers off the sidelines. I know when I look at this inefficient market in flux I get the sense deep down inside that waiting is the best move.

Auctions would solve the problem for sure, but I don’t think the sellers are brave enough to know what the market thinks of their houses. That truth will eventually come out, but it’s just gonna take 6-18months–they might as well know now and be able to move on (if they need to).

Anyone know of someone doing this kind of stuff in LA?! I would pay someone to start a blog like this.

Update: JohnsJottings points to the Jumping of the Shark with TV shows about flipping like: Million Dollar Listing, Flip This House, and Flip That House. Nice one John!