Don’t Panic: But Home Prices in #GrandRapidsMI Are Climbing!
Hence why Grand Rapids #realestate is such a hot number these days compared to the entire U.S. market, but here's the thing: not only could you act now and upgrade to buy a house and perhaps get out of surprise skyrockets in price (or wait to sell, maybe) —
But as a home flipper, better steer clear. After all, you'll find that buying a home for an increased sales price won't leave you a whole lot of room to up the value when it comes time to sell. It'll be like squeezing a wet towel that's already been wrung. You won't get a lot of 'water' out of that.
Here's the numbers for you on Grand Rapids real estate. Crunch them yourself: $171,092, average home sale in June, 2014; $181,980, average home sale in June, 2015. Prices are going up. Therefore, don't make a PROFIT. Simply make a HOME.
Not that house flipping is necessarily a bad thing; after all, it’s a natural lucrative phenomenon in the real estate industry all over. Check out Midvale, Utah, for starters, with the real estate funding and cash loans to flip a home and make some profit while stimulating the market.