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 email@example.com for all you real estate wants and needs.
Latest posts by Renee West (see all)
- Custom built interior1 bedroom 1.5 bath condo. Located in the Vista Del Lido complex. Listed for $1,999,999. Contact me to see this exclusive condo. - January 12, 2018
- Resort-like estate in27500 La Vida,Los Altos Hills, one of Silicon Valley’s exclusive residential communities.Offered for $68,000,000. - January 2, 2018
- Magnificent home located in Ritz Cove. Guard-gated community setbetween the Five Star Ritz Carlton Hoteland the Monarch Beach Resort in Dana Point. Offered for $13,450,000. - December 31, 2017