I inspected a condo yesterday which the owner has listed for $275,000.
I've looked a quite a few properties in this market in the past few months, and the condo I live in is right across the street, so I've got a fair idea of the market. After looking at this one I was scratching my head trying to figure out how it could be worth anything like the asking price.
Well a quick online search of the Routt County property records revealed that the current owner bought the property on February 10 of this year for $182,000!
So he's looking for a gain of 50% in a little over four months, or 150% per annum! I knew the market was hot, but I want to know what planet this guy is on.
1 comment:
that's ridiculous.
some guy reads one crappy book from the public library on flipping, and he thinks he can ask $93,000 more in 5 months!
pleeeease.
ski towns suffer because of sycophants like this, and it's a friggin' shame.
dave
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