Have any of you seen those shows on TLC and Home and Garden Network- Flip That House or Property Ladder? Well they are everywhere, documenting go-getters in their quest to make a buck on the real estate game. Don't get me wrong, real estate is a smart investment and can be quite lucrative, but some how it seems lately it's getting a little out of hand.
Today I dropped off some cupcakes for a babyshower that my sis-in-law was throwing in S. Seattle and I decided that on the way home I would take some back roads and explore the neighborhood a little more. As I wound my way through the Lakeridge neighborhood, I started to find the "For Sale" signs. I pulled over to one particulary cute house and almost peed my pants when I saw the price. $519,000?! ARE YOU FREAKIN' KIDDING ME?! It boasted a "Lake Washington View" (which it kinda didn't) and "Total Remodel" on the flyer. Well sure, I have a Lake Washington view at the condo; only if I stick my head out the bedroom window and crane my head to the right. This would certainly prove to be quite dangerous and stupid, but it's a view- right?
I took the flyer home and started to do a little research online. Looking for houses is a fun game I play sometimes, messing with the payments and the interest rate just to see how much I CAN'T afford. I found on zillow.com that the house sold in March for a measley $300,000 and was back on the market in July. Holy smokes, that is a crazy flip- the house is indeed remodeled, but I can't even imagine that they would make a $200,000 profit on the house. Zillow.com had it estimated at $428,000. Well, as my dad says, property is only worth as much as someone will pay for it.
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