Under the category of Luxury home flips, the example below stands out. A Paradise Valley home flip nets investors a cool $700,000 Profit. Arcadia and Paradise Valley home flips have become BIG business. Many of the current homes for sale in Arcadia are now "home flips".
The remodeling/flipping trend is not stopping there, many of the homes for sale in Arcadia are being bought as "outdated relics" and then remodeled and re-launched as beautiful million dollar estate homes. Scottsdale, Paradise Valley and Arcadia real estate agents like myself are loving these new listings! Remodeled homes in Arcadia and Scottsdale sell fast!
Luxury home flips in Paradise Valley may be selling even faster. For example, two talented investors just flipped a Paradise Valley home for a cool $800,000 profit in just one short year. The interesting note here is, the luxury home was on the market for over 370 days for any number of buyers to purchase. The investors purchased the Paradise Valley home for $2,200,000. One year later after a beautiful remodel, the home was re-listed and SOLD in a very short 47 days. The investors listed the home for $3,495,000. After remodeling expenses, the investors will net a well-deserved 63% return on investment. A nice reward for taking the time to complete a beautiful remodel that other buyers did not have time or interest in doing. The remodel effort was time well spent for this couple. Well done! Congratulations to both the buyers and sellers.
For more information on homes in Paradise Valley, Scottsdale or Arcadia please feel free to call me anytime at Russ Lyon Sotheby's Realty. I am happy to guide buyers to homes with either fantastic equity potential or those that are new or completely remodeled.
Michael Chaisson, Realtor -480-450-4632 Russ Lyon Sotheby's International Realty Premier Client Services- Ranked Top 1% Nationally
Circle of 26 Excellence Award Recipient
See below for before and afters
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