Nope. The Flippers lost their shirts. They did a top to bottom remodel and put it back on the market 3 months later. I sold it to them in July 2013, they relisted it in October. It took them 13 months to sell it. They finally sold it for $169,000 more than then paid me after putting $200,000 (according to the permits filed with the county) in remodeling in it. Plus they had to pay insurance for a year and property taxes. Neighbors figure they lost $100,000. It was one of three houses in the immediate area sold at that time, and the only one that was remodeled, not torn down. It was a 1,750 square foot house on a 1/2 acre lot. The norm there is people build 5,000 square foot McMansions on those lots.
So the Realtors knew what they talking about.