A letter from Bill Fleckenstein’s “Ask Fleck” column begs to be remembered.

“Hi Bill,
My husband came home from work yesterday with this story from Phoenix for the Realestate Mania Chronicles. He had lunch with a coworker, whose realtor showed up to discuss the home she had just purchased. Because the housing market is so hot in Phoenix, the 30ish woman and her husband purchased a home they are not very excited about. The realtor advised the young couple to put no money down on the new house, take out an interest only loan, and use their cash to purchase another lot they like much better. In a year, the realtor told them their new house will go up in value so they can sell it and build on the nicer lot. That is not the worst part of his advise [sic] though. The realtor then announced that he just flipped a house in “one” day. He bought a house for $500,000 and the very next day (while the house was in escrow), he sold the house to a client for $600,000. Apparantly, he will simply sign the house over to his clients at closing. To top it all off, the realtor then turned to my husband’s coworker and said, “Stick with me and I will make you $200,000 a year flipping houses.” When the realtor left, the woman asked my husband what he thought of what just transpired. He simply replied, “I would never let my realtor be my financial advisor.” We hope she listened.”