A floops is the listing of a property that was recently purchased, but unlike a flip, the goal is less about making a profit than getting out as whole as possible. (The reason for the listing—change of heart, divorce, relocation, health issues…—is irrelevant.) The word was coined after an agent got testy with me about using the term flip for a listing that wasn’t going to make money, and a reader suggested we call it a floops.
Burning Questions
- What Are Those Old Buildings at the Corner of Castillo and Montecito Streets?
- When Will the Coast Village Road Medians Be Completed?
- What’s This Scaffold Structure on Las Positas Road?
- Why Does Street Striping Take So Long to Happen?
- Why Do Rocket Launches Look the Way They Do?
- How Is the San Ysidro Debris Basin Designed to Work?
- What’s This Building on Helena Avenue?
Recent Comments
You've done a great thing for the hapless men of Santa Barbara with this series. Stopping by half of these stores. — Andy
The post office renaming will cost roughly $500,000 paid for by the USPS internal funds from stamps and fees. — Derek
Thank you, Erik, for reminding your readers to support local businesses; it is one of the critical ways to help our communities thrive. (I laughed… — Pat
I agree about the skimpy wine pour. However, we loved the shared entrees (chicken and salmon) with their special rice. Yes there were leftovers but… — ElizabethW
That 5% would go to all employees proportionate to their hours I would presume compared to tips where more skilled staff take a higher percentage,… — Don
Geo , you know absolutely nothing about the restaurant business. — Roy
What if, and bear with me here because this is complicated, restaurants just paid their staff normally and charged prices that reflected those expenses, i.e.… — Rich
Little Mountain just isn’t organized. Everyone is very nice and the atmosphere stylish, but there is something wrong with it. The food is weird, portions… — Joan
I intensely to test Sur charges for the cost of doing business. Will they give back 5% profits to the patrons when they do extremely… — Geo
Just call it "The Copper" — Bob