Source: The Mercury News
Southern California has seen a surge in pricey houses on the market with phrases such as “fixer upper,” “TLC,” “needs work,” or “good bones,” an analysis by real estate website Zillow shows.
Expensive fixer-uppers, or those listed in the top third of their markets, saw the biggest increase in the number of as-is homes for sale around the nation over the last five years, going up 35 percent. By contrast, fixer-uppers in the bottom third of the market rose less than 3 percent.
“Rising home prices and tough buyer competition may be giving sellers more flexibility to list their home for sale ‘as-is’ without needing to fix it up first,” the report states.