Ive been hearing and seeing alot about the housing market taking a dive, but i was still considering my first attempt at flipping a house. Is it still a good idea now? I watch all of the house flipping shows on tv, and it seems like everyone knows that flipping house can be a good source of income, but im afraid that in this market it will be very difficullt.
thought

there are difinately opportunities for house flipping, even in this type of market. All it takes is the right deal. Look around at the available properties in the location you are thinking about flipping a property in. If there are a ton of houses up for sale in that area or the price of houses are steadily decreasing, it may not be the best time to do a flip. But if you can find an especially good deal, like through a forclosure, you can make it work. Just make sure and factor the extra time it may take to sell the house when you are working up the numbers.

There still are some markets where flipping is still an option. Places like san fransico and l.a. still have decent markets. You cant expect to get as much return as you would have been able, but there is still room for some profit.

i live in the western part of connecticut and the market seems to be more stable here. There have been some lower prices lately, but the houses are still selling. I think things will return to normal in a couple years. But now is there time to buy

my area if kind of difficult right now, there are alot of houses on the market. Prices have dropped about 50-$100k in about a year. I think things will get better, but alot of the speculator are up a creek right now.