Quote:
Originally Posted by Lottoguy
In the paper yesterday there were 15 pages of homes for sale south of 44 in the newer area. Many of these homes are very expensive. Some of them over one million dollars.
According to the rules after a new sale of a home, you cannot resale that home until you keep it for one year. What are the reasons for selling these nice home after such a short time? I don't get it.
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We tried to buy a home in Richmond last year, but there were 50 people it seemed going after each home that came up there, now we are hearing they are just about all rentals, and that after a year most of these will go up for sale for a hefty profit. So basically , because of the market, people are just buying to flip. Which is a shame , because a lot of us who have now bought in Newell and plan to live here tried to get into Richmond only to be shoved out by investors looking to make a buck versus those of us who actually wanted to call this home.