[headstamp 2]

Key word here also is “existing homes”.

I would also like to know how many of these are foreclosure purchases by house flippers.

[illiac]

We are seeing a lot of cash purchases her in north Idaho....investors have come back with a vengeance.

Problem is, they are paying top dollar for small homes and those wishing to refinance are seeing those values and hope their homes appraise for much more than they are really worth.

We saw this back in the boom years and everyone lost their shirts.

Appraisers are once again being challenged to inflate values by the home owners which will ultimately lead to being upside down once again.

[Cementjungle]

On my street alone, two empty lots sold several months ago and spec houses are going up ($1 million range), and flippers bought my neighbor's house (auction) and another one across the street (was bank owned after the cops ran out the Mexican nationals who had a major pot growing operation going on in it).

In Los Angeles, people are buying up little old houses and putting up $2 million houses with zero lot lines.