Chicago’s Money Pits unveiled: While many people laughed at Tom Hank’s troubles in his 1986 movie, The Money Pit, few Chicago home buyers will be able to stomach the prospect of fixing up their own because of unethical quick flippers
Chicago, Illinois, United States of America – May 23rd, 2018 – As Chicago’s real estate market continues to slump to 20-month lows, Chicago Home Inspectors have revealed that some unethical “quick flippers” are building on the city’s housing issues with a far more dangerous problem: dangerous, so-called renovations.
The Chicago Tribune has already warned of a bubble in the city’s house flipping “frenzy.” According to Real Estate Daily, the effect on the market has been severe, preventing would-be home buyers from purchasing homes while they are renovated and turned around for a quick buck. However, there is a dark side to this marketplace.
For prospective buyers already squeezed by a lack of housing, the prospect of finding a dream home for their family is now laced with the fear of finding a house of horrors, ready to hit their health – and their wallet.
Chicagoland Home Inspectors found one such home when inspecting a recently-renovated property for realtor Denise Reed Burbon of Charles Rutenberg Realty, who commented that buying such property was akin to purchasing a car which caught a flat tire with each corner turn.
“Denise and I were amazed at the state this house was in – these unethical flippers are little more than cowboys trying to make a quick buck at the expense of Chicagoans looking for a home,” said Charles Bellefontaine of Chicagoland Home Inspectors, who conducted the inspection.
“Make no mistake about it: These homes are dangerous. Sooner or later, the effect of ‘quick flipping’ is going to result in tragedy. This is a ticking time bomb that is coming about purely because of greed with no concern for consequences. As home inspectors, we are vigilant against this threat and condemn this unethical behavior. Who wants to buy a potential death trap?”
The flipped property, an elegant townhouse located in the historic Bronzeville neighborhood, was inspected on May 5th. Out of 74 items checked, over 23 were listed as a safety hazard with a further 43 recommendations made for improvements to pass.
“It’s hard to buy, renovate, and sell a home in Chicago for $300,000 and turn a profit in Chicago. People looking for homes should not be trusting – and take every effort to protect themselves and their investment,” said Karla Thomas, Founder and Managing Broker at Urb & Burb.
“Something has to give at these attractive prices – and that involves cutting corners. There are some tell-tale signs out there that buyers can look for – little things such as switching out light switches or adding an extra layer of paint to decades-old ones. These can clue people in to how much effort has gone into a job – and whether the details behind the wall are going to be good – or a hidden horror story.”
For more information about Chicagoland Home Inspectors and its various home inspection services in Chicago, please visit http://www.chicagolandhomeinspectors.net/. For all general and media inquiries regarding home inspection and drone inspections for rooftops, please contact Charles Bellefontaine at 312-759-7045 or email him at email@example.com.
About Chicagoland Home Inspectors, Inc.
Chicagoland Home Inspectors is one of Chicago’s most highly rated home inspectors, offering a full range of home inspection services in Chicago including listing inspections, sewer inspections, and rooftop drone inspections among others.
For more information about Chicagoland Home Inspectors, please visit the company’s website.
Company Name: Chicagoland Home Inspectors, Inc
Contact Person: Charles Bellefontaine
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Address:980 N Michigan Ave, Suite 1400
Country: United States