A total of 51,434 single-family homes and condo sales were completed flips in the second quarter of this year, up 14 percent from the previous quarter and up 3 percent from a year ago. It is the highest number of home flips since the second quarter of 2010, according to the Q2 2016 U.S. Home Flipping Report, released by ATTOM Data Solutions.
“Home flipping is becoming more accessible for smaller operators thanks to an increasingly competitive lending environment with more loan options for real estate investors, who are also benefiting from the historically low mortgage interest rates,” says Daren Blomquist, senior vice president at ATTOM Data Solutions. “That favorable lending environment for flippers has helped to fuel the recent flipping frenzy we’ve seen over the past five quarters.”
Homes flipped in the second quarter accounted for 5.5 percent of all single-family and condo sales. A total of 39,775 investors (both individuals or institutions) completed at least one home flip during the quarter, the highest number of home flippers since the second quarter of 2007, the report showed.
“We’re starting to see home flipping hit some milestones not seen since prior to the financial crisis, which is somewhat concerning, but there are a couple of important differences in the home flipping of 2016 compared to 2006 when home flipping peaked during the last housing boom,” Blomquist says. “First, home flippers are realizing a much bigger gross ROI in 2016, averaging 49 percent in the first two quarters compared to an average gross ROI of just 27 percent in 2006. Second, while an increasing number of flippers are financing their purchases, more than two-thirds are still using cash to purchase compared to about one-third using cash to purchase back in 2006.”
Author:Patti Felten Phone: 580-919-4197 Dated: September 20th 2016 Views: 353 About Patti: ...
View our latest blog posts in your RSS reader. Click here to access.
William Nelson & Co. is a real estate brokerage where our sales team makes sure every detail of the buying or selling process is attended to. Your goals, not ours, are the priority. We don’t buy real estate we sell real estate. That’s what we do. We are a top-performing brokerage for good reason.
Interested in buying a home? Often times the steps to purchase a home can be overwhelming. We will be there every step of the way to ensure the buying process is an enjoyable experience.
Needing to sell your home? We utilize the most modern real estate marketing tools and techniques to make sure your home is positioned to be seen, shown and sold.
Please contact us to ask any questions or set up an appointment. We look forward to meeting y ou!
When you’re getting ready to list your home, it’s of the upmost im
"Souri was very patient and waited on me when I was coming from out of State after hours! She showed me any house that I was interested in and kept in touch with me during and after I submitted my bid. Souri was prompt to respond to my texts and emails, and any questions that I had on the properties. Thank You for Good Customer Service!!"