
By: Deborah Huso
Finding a fixer-upper to flip, or to live in for a time and then resell later for a profit, is not as easy as scanning the real estate listings.
“Some properties may fit fixer-upper categories in the buyer’s eye, but not be listed that way by the seller,” said Jonathan Hill, president of RealEstate Business Intelligence in Rockville, a subsidiary of the Metropolitan Regional Information Systems.
The seller or the seller’s agent may want to avoid what they perceive as a negative moniker.
That said, it is not surprising there are more of these properties on the market in the D.C. metro area these days — and that more of them are selling. RBI’s figures from April to September this year show 997 fixer homes sold in the District and surrounding areas, including the cities of Alexandria and Falls Church, Arlington and Fairfax counties in Virginia, and Montgomery and Prince George’s counties in Maryland. That’s a jump from the 650 to 750 sold during the same periods from 2005 to 2008.
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