This is an older post that I've updated. I received a real estate association e-mail newsletter with an interesting list from an Illinois real estate agent, Mark Nash. I'd like to quote his Top Buyer Mistakes and give my opinion after each one:
1. Bought properties to flip at top-of-market prices
I still can't figure out why buyers do this. Maybe if a buyer timed the purchase around the flipping of a Scottsdale house for sale at the beginning of a seller's market, they might have seen a substantial profit. In our local market, things are slowing and I've already seen homes purchased and quickly put back on the market at a higher price (after some renovating) sitting and not selling.
UPDATE: We are still seeing flips but I do see a lot of…
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