SKY IS FALLING 
Another flip gone bad?
https://www.redfin.com/CA/Los-Altos/1495-Cedar-Pl-94024/home/778727
Market is pretty flat. Maybe 2019 is a repeat of 2015. Next year will be better.
I would stop buying and not selling yet. It’s the time to hodl
Who is looking to buy in 2019? @cloud is the only one as far as I know. @harriet has given up. @hanera might be buying but it’s austin
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Don’t understand this one. They bought it for 2470K an year ago and the interoir or exteriri isn’t remodelled ?
@BAGB …yes I’m still looking for a flip/remodel/adition Some of my new house permits are stuck in the process.
Austin houses are so cheap, can buy 1 annually regardless of macro conditions.
Since when did you become my spokesperson?
This house was listed high to begin with. This area is the cheapest area of Los Altos since they are zoned to cupertino schools. Original homes in this area are usually between 2.5 - 2.8. This house is so close to the 280 so it should be on the lower end. I don’t think the seller was an investor, nothing has been done on the house and no permits were filed on this house.
If it’s not a flip why are they selling only a year after they bought?
Realize they can’t afford to own such an expensive house. Bought 1 SFH in Austin that owner owned less than 1 year. Bid $2.628M for that Los Altos house :), let him recoup the commissions + a little.
May be for various reasons, relocation, divorce, health…
There is not much gain in home flipping. Most flippers want only pay 70-80c on a $1 locally. A flipper told me he will accept a 10% gain hinting the days are numbered.
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