By Scott Bernard Nelson
Entreprenuer.com
Has the house flipping bloom finally fallen off the rose? HomeSmart LLC in San Juan Capistrano, California, which tracks real estate deals in 150 metro areas coast to coast, found that in every region, the proportion of home sales for properties owned six months or less has fallen dramatically since hitting a peak in 2005.HomeSmart President Mike Ela says he assumes most of that quick buying and selling was intentional, which fits his definition of "flipping." Not only are flips becoming less prevalent, but they're also becoming riskier.
In Florida, for example, only 2.6 percent of home sales were for flipped properties in the third quarter of 2003. But that percentage had more than doubled to 5.8 percent by the third quarter of 2005. As the real estate market cooled, the percentage dropped, hitting 2.4 percent in the final three months of last year. More ...
See also: Las Vegas "House Flipping" Ends Up Like Most Bets
Jennifer Bunker, CRS, GRI
Utah Real Estate Broker
1 comment:
The house flipping
process is not easy but learning about it might make you to try it out yourself.
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