Has that run down house next door been painted in shades of olive green or gray? Has the rusty chain link fence been replaced by unpainted, horizontal wood slats? Is the front door now a shiny red, orange or chartreuse? Then it looks like you got a house flip on your block, according to a recent Spot.us story headlined “House Flipping Wave Transforms Northeast L.A. The story looks at the large number of investors and speculators who purchase, fix up and then soon after sell houses in what is known as a flip. The story features flipper Steve Jones of bettershelter,* one of the “boutique developers” that have been busy buying and selling homes across Highland Park, Glassell Park and other Northeast neighborhoods. He and the author take a tour of Northeast L.A. in search of homes displaying the signs of a flip. They are not hard to find, the story says:
“There’s another one,” Steve Jones said under his breath, as he spotted the work of a competitor. “Hilarious.”
When Jones started flipping homes here three years ago, as principal of his design company Better Shelter, he was one of few people in the area doing this work. Today, a flipped home can be found on nearly every block in the neighborhood, thanks to at least a dozen small developers or individual flippers getting in on the game.
The houses aren’t difficult to spot. They usually follow some variation of the following pattern: gray or greenish-gray paint, with white or brick red trim, and a colorful door – mint green, orange, red – and sometimes a colorful accent mailbox. Instantly recognizable horizontal wood-slat fencing tops it off.
The large number of flips being remodeled in the same style may lead to the neighborhoods, the author said, “getting remade in a uniform, ‘Ikea-like’ style.”
* Bettershelter homes have been advertised on The Eastsider.