House flipping has been getting a lot of attention in the media lately, and most of it is definitely not kind. Many investors who took out multiple loans to purchase properties intending to flip them, ended up getting stuck when the market started to stall. Many of the properties purchased by these investors are now in default or have already been foreclosed on.

But house flipping has been around for longer than the current boom-bust cycle. People have been buying fixer-uppers cheap, fixing them, and then reselling them for decades. It was looked on as an honest way to make a living. You’d find a nice neighborhood that had one or two properties that were run-down and often vacant (many times the owners had passed away and the heirs didn’t really want anything to do with the property). They were considered eyesores by others in the neighborhood. You’d track down the owner, make them an offer, and purchase the home at a good price. Then you’d go in and remodel the place to meet the needs of the current market. Then you’d sell the home for a nice profit, maybe $10,000 or so. The neighborhood came out a winner because it got rid of the eyesore and increased everyone’s property values.

For more on this type of house flipping, click here for an article from Minneapolis Real Estate Blog.

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Village of Tiki, Texas: $1,349,000

4 Bedrooms, 5.5 Bathrooms, .74 Acres

Incline Village, Nevada: $1,349,000

4 Bedrooms, 3 Bathrooms, .45 Acres

Sarasota, Florida: $1,300,000

3 Bedrooms, 4 Bathrooms, 5470 Square Feet, 10 Acres, Waterfront

Block Island, Rhode Island: $1,300,000

5 Bedrooms, 2 Bathrooms, 3.2 Acres

Hilton Head Island, South Carolina: $1,295,000

3 Bedrooms, 3 Bathrooms, Ocean Views, Condo

West Olive, Michigan: $1,200,000

4 Bedrooms, 2 Bathrooms, 1932 Square Feet, .7 Acres, Waterfront

Johnsburg, Illinois: $1,199,000

4 Bedrooms, 4.5 Bathrooms, 2.62 Acres, Waterfront

Mathews, Virginia: $1,195,000

4 Bedrooms, 5 Bathrooms, 3511 Square Feet, 4.89 Acres, Waterfront

Sheboygan, Wisconsin: $1,080,000

4 Bedrooms, 3 Bathrooms, .73 Acres

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Livingston, Montana is located in the southwestern part of the state, between the Gallatin and Crazy Mountain ranges and north of Yellowstone National Park. It’s nestled along the Yellowstone River, surrounded by the Absaroka-Beartooth Wilderness Area, and in proximity to Interstate 90. At the 2000 census, the population was 6,851.

History
Livingston was founded in 1882 when the Northern Pacific Railway deemed it a good location for railroad shops to service its steam trains before they went over Bozeman Pass (which was the highest point on the line at ~5600 feet). Livingston was the original gateway to Yellowstone National Park.

People, Arts & Culture
The town was home to Calamity Jane for two decades, and is currently home to actors Peter Fonda and Margot Kidder, as well as to Saturday Night Live alumnus Rich Hall and musician Roy Strykert. A number of movies have been filmed in Livingston, including A River Runs Through It and The Horse Whisperer.

Livingston has become an art mecca in recent times, attracting many artists and writers to the area. The downtown has more than 15 art galleries and there are over 200 artisans in the county. There is live theater at two different theaters in town, and there are also a number of museums (including the Yellowstone Gateway Museum, and the International Fly Fishing Federation’s museum).

Recreation and Events
Fly fishing along the legendary Yellowstone River is a popular, as is hunting (there are numerous guides and outfitters in the area). Whitewater rafting, hiking, biking, bird watching, horseback riding, golf, skiing, rock climbing and camping are all popular in the area. There are also a number of working ranches in the area that are open to visitors as well.

On Independence Day weekend is the annual Livingston Roundup, the 10th ranked rodeo in the country. Also held in July is the Summerfest Along the Yellowstone (a music festival), the Kids’ Trout Derby, the Festival of the Arts and the CNR Sustainability Fair. From June through September Downtown Art Walks are held every fourth Friday of each month, and in late summer is the Park County Studio 2-Day Tour, which allows art lovers to visit artists in their own studios.

Real Estate
Single family homes start at around $140,000 and top out at over $6,000,000. Land parcels start at around $40,000 for subdivision lots of 10,000 to 20,000 square feet, and extend all the way $10,000,000 for a 910 acre parcel currently on the market.

Photo by tofslie.

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The most often viewed vacation home on 2ndhome.net for the past week was this 4 bedroom, 2 bathroom home in Rancho Viejo, Texas. It’s listed at $189,900 by RE/MAX First Choice.

The second most viewed vacation home this week was this 5 bedroom home on 5.1 acres in Wilmot, New Hampshire. It’s listed at $795,000 by the New London Agency.

The third most viewed vacation home was this 8 bedroom home on 58 acres in Abilene, Kansas. It’s listed at $1,500,000 by Mason & Morse Ranch Company.

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Eagle, Colorado: $10,500,000

6 Bedrooms, 6.5 Bathrooms, 9005 Square Feet, 139 Acres

Bolton Landing, New York: $5,690,000

4 Acres, Waterfront, New Construction

Newbury, New Hampshire: $4,995,000

5 Bedrooms, 6.5 Bathrooms, 9000+ Square Feet, 1.4 Acres, Waterfront

Hilton Head Island, South Carolina: $4,950,000

6 Bedrooms, 5.5 Bathrooms, Oceanfront

Holland, Michigan: $3,600,000

3 Bedrooms, 4.5 Bathrooms, 5842 Square Feet, 1.07 Acres, Waterfront

Santa Rosa Beach, Florida: $2,900,000

3 Bedrooms, 4.5 Bathrooms, 4677 Square Feet, Waterfront

Deltaville, Virginia: $2,850,000

2 Bedrooms, 2 Bathrooms, 26.3 Acres, Bayfront

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