Last month, we asked if we were Near a Bottom in Housing?  The question keeps coming up, thanks in part to former Fed Chair Greenspan calling a bottom in housing some two months ago. (Nice to see Al hasn’t lost his touch)

Is this really a bottom? Well, judging by all the Real Estate Flipper books that came out in 2006 — or are about to come out in 2007 — its a bit difficult to say the speculative excesses have been wrung out yet.

In fact, based on what we could find on Amazon, more Flipper books have been published over the one year period ending March 2007 than we could find over the previous 20 years –
combined.

Consider this a holiday shopping list for the people you don’t particularly care for . . .

~~~

Coming soon from Amazon:

Kirsten Kemp: Flipping Confidential: The Secrets of Renovating Property for Profit In Any Market

Flipping Confidential: The Secrets of Renovating Property for Profit In Any Market
(due Mar 23, 2007)

~~~

Michael Corbett: Find It, Fix It, Flip It!: Make Millions in Real Estate--One House at a Time

Find It, Fix It, Flip It!: Make Millions in Real Estate–One House at a Time
(due Jan 31, 2006)

~~~

Peter A. Richmond: The Unofficial Guide to Flipping Properties (Unofficial Guides)

The Unofficial Guide to Flipping Properties
(due Jan 23, 2007)

~~~

Michael C. Thomsett: Getting Started in Property Flipping (Getting Started In.....)

Getting Started in Property Flipping

(due Jan 9, 2007)

~~~

Villani: Flip

Flip: How to Find, Fix, and Sell Houses for Profit
(published  Dec 1, 2006)

~~~

 

Ralph R. Roberts: Flipping Houses For Dummies (For Dummies (Business & Personal Finance))

Flipping Houses For Dummies
published November 20, 2006

~~~

Vicki Christian (Buying for Profit

Buying for Profit

(published November 7, 2006)

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Sebastian Howell: Fast Real Estate Profits in Any Market: The Art of Flipping Properties--Insider Secrets from the Experts Who Do It Every Day

Fast Real Estate Profits in Any Market: The Art of Flipping Properties–Insider Secrets from the Experts Who Do It Every Day

(published July 1, 2006)

~~~

William Bronchick: Flipping Properties: Generate Instant Cash Profits in Real Estate

Flipping Properties: Generate Instant Cash Profits in Real Estate

(published April 1, 2006)

~~~

We did find some older Fipper books — but you will note they are few and far between. Here’s what’s out there:

Mark B. Weiss: Real Estate Flipping: Grow Rich Buying and Selling Property

Mark B. Weiss: Real Estate Flipping: Grow Rich Buying and Selling Property

(published May 2004)

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Mike Dulworth: Renovate to Riches: Buy, Improve, and Flip Houses to Create Wealth

Mike Dulworth: Renovate to Riches: Buy, Improve, and Flip Houses to Create Wealth

(published December 19, 2003)

~~~

Steve Berges: The Complete Guide to Flipping Properties

The Complete Guide to Flipping Properties

(published November 14, 2003)

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Rod L. Griffin: How to Buy and Flip Real Estate for a Profit!

How to Buy and Flip Real Estate for a Profit!

(published March 15, 2002)

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V. Mittelberg: House Flipping for Fun & Profit: Make Money the Easy Way

House Flipping for Fun & Profit: Make Money the Easy Way

(published May 1997)

 

Is it just me, or do all these have a Dow 36,000 feel to them? (Available on Amazon for one cent).

Hat tip for the concept: Mike Panzner

Category: Books, Psychology, Real Estate

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

28 Responses to “Real Estate Flipper Books
(or, Are we really at a bottom in Real Estate, Part 2?)

  1. metroplexual says:

    The only Flip book you are miissing is the Biography of Flip Wilson!

    “What you see is what you get.”
    Flip Wilson,

    Term borrowed by computer engineers abbreviated to WYSIWYG

  2. Robert Coté says:

    Those who can’t do; teach.

  3. Byno says:

    REITS trading @ 50x earnings is a bottom?

    Easy there Easy Al.

  4. Bob_in_ma says:

    “Find It, Fix It, Flip It!: Make Millions in Real Estate–One House at a Time”
    Amazon.com Sales Rank: #920 in Books

    I guess it aint over yet… ;-)

  5. “Is it just me, or do all these have a Dow 36,000 feel to them? (Available on Amazon for one cent).”

    No. But, their timing in the cycle is absolutely wrong.

  6. alexd says:

    Yes the proliferation of books at this juncture might very well be a bottom.

    Since it takes an effort to write and publish any book there is likley a time lag. So it might be a lagging indicator.

    What comes out in lets say just for argument in the next 6/9 months might be a better tell.

    I agree with the person who said that most reits have a high pe.

    Incidently a technical approach I use is indicating we might be on the verge of a decent in price of stocks. But we need a drop in price before I can say it is confirmed. Otherwise I am more neutral on the whole thing.

  7. chad says:

    I wonder what the growth rate of books published about hedge funds is over the same time period?

  8. I’m just thankful that the pending housing bubble is ahead of us, as it has been for 5+ years now, and not here right now. But, it’s coming.

    From the WSJ: “U.S. home prices grew at an annual rate of 3.5% in the third quarter, the slowest rate of price appreciation seen in eight years, the Office of Federal Housing Enterprise Oversight reported Thursday.

    Including the third quarter, home prices are up 7.7% in the past year, the slowest in three years. A year ago, prices were rising at a 13.4% pace.

    By comparison, home prices rose at an annual rate of 5.1% during the second quarter, with the year-over-year increase through June pegged at 10.3%.

    Prices had risen by 57% in the previous five years. ”

    Another quarter, another year, year 5 into the “bubble” and still no “pop”. But, it’s coming…..

  9. Note that is Average — not MEDIAN — prices

  10. Paul says:

    I have a question for anyone willing to answer. I’m planning to buy my first house in a couple of years, hopefully when housing is more affordable, and I’m having serious trouble sifting through all of the garbage at the bookstore.

    Does anyone have any recomendations for a few good books regarding real estate?

  11. George says:

    All the books coming out now and next year started as signed deals anywhere from 18 months to 3 years ago. The book production process is very slow.

    So, if there’s a glut of these books now, it signals perhaps more of a bottoming out…..

  12. cm says:

    Century 21 is running a local TV ad showing a desperate (apparently seller) couple talking to an agent, with the dialog going like this:
    Wife: “But I want this [other] house.”
    Husband: “We have to get our price.”

    Husband: “What, is that a joke?”
    Agent: “I call that an offer.”

    Not sure how new this is as I generally watch TV very rarely, but I was very surprised at this kind of stuff being aired.

  13. TWO EXAMPLES FROM THE Annual Percent Change in OFHEO MSA House Price Indexes through 2006 Q3 for NYC & SAN FRANCISCO:

    NYC: +9.43%, SF: + 7.67%

  14. MTHood says:

    I saw the Nusbaums of my generation destroyed by

    madness, starving hysterical naked,

    dragging themselves through the Phoenix streets at dawn

    looking for a bridge loan

  15. brion says:

    “Flipper, lives in a world full of wonder”
    unfortunately it’s underwater…..
    http://www.youtube.com/watch?v=TL0FGxisSmY

  16. Gary says:

    I wonder if Larry thought the decline in the Nasdaq was over in Jan. 01. Well for sure it was done in May of 01. Ok absolutely bottomed by Jan 02. My father had to lower his price by 26% to sell in KC, MO. They didn’t even have a large price increase in KC. The house was spotless and still it sat on the market for almost a year with nobody even looking. I see for sale signs everywhere in Vegas that have been up for over a year now. When something gets as irrational as the tech bubble or real estate where the general public piles in the decline doesn’t just end after a year. It will end like all bubbles end, when the asset class becomes ridculously cheap and everybody is convinced that you should never ever buy again. In 99 when gold was at $255 and everyone thought it was a useless relic that’s when I want to buy. When oil was at $10 a barrell and going to $2 that’s when I want to buy. I’ll take Jim Rogers or T. Boone Pickens advise over the Larry Nusbuams of the world anyday.

  17. DavidB says:

    Flipping Houses For Dummies

    OK, those ‘for dummies’ guys have officially become whores

    …and to add to what another comment made above about Flip Wilson. Maybe the appropriate title would be:

    The Devil Made Me Do It:
    Your complete guide to flipping properties

    BA! HA! HA!

  18. lurker says:

    forget the supply side (scary enough), what if housing demand falling as well (no speculators/flippers left standing), no one trading up because they can’t get what they want for the house they are in, prices finally dropping so renters decide to wait etc. and it is easy to see how this decline could be with us for some time.

  19. metroplexual says:

    David B.

    Thank you. Finally, someone with a sense of humor and that is old enough to remember.

  20. HS says:

    cognitive dissonance could be defined as: this economy is going into the hopper (for a year and half now) because the housing bust …meanwhile the market is just RIPPIN higher! awesome!….

  21. S says:

    brion: that’s hilarious

  22. Posted by: Gary | Dec 4, 2006 12:35:23 PM: “When oil was at $10 a barrell and going to $2 that’s when I want to buy. I’ll take Jim Rogers or T. Boone Pickens advise over the Larry Nusbuams of the world anyday.”

    I am quite sure that you bought at the bottom and sold at the top. I am also sure that you sold all of your real estate at the top and will wait to re-enter at the bottom. Masterful, indeed.
    Only one problem with your post: I provided no “advice”….

  23. Teddy says:

    It looks like the shopping center and mall owners,the retailers,the bankers,the real estate peddlers, and the debt peddlers are winning the battle of power and influence and are thrilled that China still wants us to load up with more of our debt. But why wouldn’t China buy our debt for a little longer, after all, it’s a small price to pay for the transfer of American technology that took decades to develop?

  24. Macro Man says:

    Is the symbiosis with China really a losing proposition? PBOC earns maybe $35 billion a year in interest income from holding US debt (~700 billion at perhaps 5% interest.)

    Meanwhile, the stock of US FDI into China is roughly $600 billion earning approximately 10% per annum (data from UBS chief China economist) – $60 billion.

  25. Tim says:

    Barry
    How can you possibly leave “Iamfacingforeclosure.Com” off the list? It’s the flipping story of the new millenium. Sure, it’s not a book – at least not yet…
    Sincerely
    Casey

  26. bobd says:

    My new book coming out “FLIP….FLOP”

  27. DinOR says:

    For a minute there I’d thought we’d found the ultimate contrarian indicator but given the lag time from proof to print I suspect a lot of flippers will be flocking to Border’s to see what went wrong.

  28. Cara Fletcher says:

    Hey thanks very much about this list of books about house flipping and how to sell your house at the best price.I am going to buy osme of them so that I wouldn’t know more about it.