Return of the House Flippers (BusinessWeek)

BusinessWeek - On an unusually hot March afternoon, the steps of the Maricopa County courthouse in downtown Phoenix fill with people in sunglasses, shorts, and flip-flops whispering urgently into cell phones. They are "flippers," here for the daily outdoor auction of foreclosed homes -- bidding for themselves or clients who plan to buy houses cheaply and fix them up for a quick sale. And with the economy starting to percolate and real estate markets bottoming out, the auctions are drawing bigger crowds. ...

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