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How to find fixer-upper homes with profit potential

Turn your hard work into a new career
Published on Sep 1, 2006

As the volume of new and resale house and condominium sales gradually slows down in most communities from last year's record levels, due primarily to rising mortgage interest rates, savvy home buyers are rediscovering a source of bargain-priced residences known as "fixer uppers." Retail sellers of homes in excellent condition, including brand-new houses, expect to earn top dollar for their "model home" condition residences. But in today's market that has become difficult. Purchase Bob Bruss reports online. To illustrate, look at all the upgrade sales incentives home builders are offering, which weren't available just a few months ago. Also, many sellers of resale homes are reducing their asking prices. Traditionally, there has not been a large buyer demand for fix-up homes. The reason is they usually require work, such as painting, cleaning, repairing and landscaping. Most buyers instead prefer to buy homes where all they have to do is turn the key in the front door and move in. LOOK ...

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