What a bad flip really creates…..lower property value in your neighborhood! I was really confident that with the current residential housing market, that so called professional flippers would get it – doing it right does cost a bit more in labor however the investment in quality far outweighs the “loss of profit” by motivating a buyer to purchase the renovated property at a price that reflects the improvements. Recently, in my neighborhood, there is evidence of greedy flippers, purchasing distressed properties at bargain prices, doing a minimal amount of “cosmetic” improvements, then putting the homes back on the market intending to make a profit at the expense of buyer who is willing to pay less than market value and settle for inferior renovations. I do not begrudge any one who decided to flip a property from making a profit, but the workmanship forces these properties to sell for less than similar properties in the neighborhood. My previous home in this neighborhood sold overnight for a premium price because of the craftsmanship put into the remodel while the house across the street that recently was “flipped” remains for sale, at a cheap, and will eventually impact the appraised value of the other homes on the block. My second house in the same neighborhood is going on the market, again at a premium price, however chances are it will not appraise due to the inexcusable activity of these greedy flippers.