RMLS distressed listings deal/no deal?

[Matt Good]

given the current condition of the market, what's the general consensus regarding residential distressed property listings on the RMLS with respects to any profitability to be had? Are these listings generally going to have inflated purchase prices in a sellers market? Or is it truly a driving for dollars game?

[Rodney Marcantel]

In Dallas, it's a sellers market. Inventories are extremely low so if buying a home to flip, you're ARV's can be a bit higher than comps depending on the updates you do as homes here are getting multiple offers. I have my home on zillow as a "make me move" and getting many calls from agents wanting to know when we'll actually put our house on the market cause they have a large buyers list ready to move to my city.

We don't plan to put our house on the market until mid summer as we're building a house just outside our city to cut our tax bill in half as where we live is very expensive taxes and with our daughter graduating high school in May, we can now move out of this city (best schools in Texas). This way we'll be able to downsize and cash out to pay for her college and get a brand new energy efficient home. Appreciation on our home in 2 years is right at $100K.

My RE agent is constantly writing offers on homes as she gets multiple offers on every home, some of which are getting $20K over asking. Great for me since I'm selling :-).