The volume of house flipping increased 19 percent from the first half of this year to the first half of last year, according to RealtyTrac.
At the same time, profits from flipping increased 246 percent.
Over the first half of this year, investors earned an average gross profit of $18,391 per home flipped, up from $5,321 in the first half of last year and a vast improvement from the first half of 2011 when flippers lost an average of $13,206 on flips.
The $18,391 represents a 9 percent return on investment.
Investors working in markets where foreclosures have ticked up recently are earning the greatest profits, according to RealtyTrac, because they are able to purchase at a discount.
As such, “home flipping is tapering off in markets where fewer of those distressed bargains are available,” said Daren Blomquist, VP at RealtyTrac…”
Read the rest of DSNews.com’s article here: Flipping on the Rise in Most Markets as Profits Skyrocket
Contact me at (714) 914 9060 or firstname.lastname@example.org for all you real estate wants and needs.
Latest posts by Renee West (see all)
- I am celebrating my Chairman’s Circle Gold Award from my Brokerage. I received this Award commending my professionalism, diligence, integrity, and sales accomplishments. - March 5, 2018
- LAGUNA BEACH CUSTOM HOME OVERLOOKING CRESCENT BAY, EMERALD BAY, AND THE MAGNIFICENT IRVINE COVE. OFFERED FOR $13,900,000. - March 5, 2018
- This striking Cape Code home offers seamless transitions, blending interior and exterior environments with ease. 3 Bedroom, Office (converted from the 4th bedroom), 4.5 baths,4 fireplaces, outside fire pit, flex room, bonus room showcasing the Turret.Listed for $5,495,000. Contact Renee West for your private showing. Hurry, this move-in ready home will be sold very soon. - February 25, 2018