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DFW Buyers Beware of Flippers Looking for Fast Money

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NORTH TEXAS - Living in the DFW area, home buyers probably feel like they're starring on an HGTV show.

Growth and new businesses have Ebby Halliday Realtor Scott Claussen constantly on the go.

"Inventory is still probably a little bit short," says Claussen. "We`re still seeing houses go really fast as long as they're priced reasonable."

Basically, the houses are moving like hot cakes.

But something buyers should look out for are outdated houses and flip homes.

Some flippers are great! Some are just looking for fast cash.

One CNBC article tells the story of a Washington D.C. man thinking he was living the dream in a new flipped home only to find out six months later, there was a whole list of permitting issues and violations. It`s the ol' "lipstick on the pig" problem.

So don`t just look at the shiny new inside. Always take a closer look at the bigger items on the list, no matter what kind of house you`re looking at.

"This property is definitely not a flip home," says Claussen. "Some of the big ticket items they`ve done on this property as far as they`ve updated a lot of the windows going back the last two years, they updated the HVAC in 2012, in the last three or four years they`ve replaced both water heaters."

Those are an example of just some of the big upgrades to keep an eye on.


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