House flippers have tough year in Des Moines
Tuesday, February 04, 2014 1:28 PM
Last year was not a good year for house flippers - investors who buy homes cheaply, fix them up and resell them within six months - DesMoinesRegister.com reports. Figures from RealtyTrac.com indicates that those kinds of home sales dropped by 30 percent in Des Moines in 2013, even though they rose nationally. The problem? Des Moines has a low inventory of homes that can be purchased and renovated cheaply and plenty of buyers willing to pay higher prices for those homes, said Rochelle Burnett, a Realtor with Keller Williams who handled several flipped properties in 2013.