The flip side of real estate

The flip side of real estate

It's a new day in property flipping when investors talk of rehabs that cost tens and even hundreds of thousands of dollars. And now their competitors include single-family investors who buy to hold and rent and eventually sell at a profit. The strategy of slapping lipstick on a pig, as a quick...

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Veröffentlicht in:Mortgage Banking 2014-12, Vol.75 (3), p.40
1. Verfasser: Sheridan, Terry
Format: Magazinearticle
Sprache:eng
Schlagworte:
Business conditions
Competition
Foreclosure
Fraud
Houses
Housing prices
Investors
Mortgages
Neighborhoods
Prices and rates
Profits
Public prosecutors
Real estate sales
Real property
Return on investment
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description It's a new day in property flipping when investors talk of rehabs that cost tens and even hundreds of thousands of dollars. And now their competitors include single-family investors who buy to hold and rent and eventually sell at a profit. The strategy of slapping lipstick on a pig, as a quick superficial home fix-up is called, is fast disappearing. Higher-end homes now are key targets -- along with the higher returns such deals can bring. That's brought a new wave of flippers into the market, says Daren Blomquist, VP of real estate analysis firm RealtyTrac, Irvine, CA. While RealtyTrac's third-quarter nationwide statistics indicate flipping activity has declined 29% over last year, the all-important gross return on investment is about the same -- a robust 36 % this quarter; 37% a year ago. And the average gross profit increased from $72,504 last year to $75,990 this quarter.
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subjects Business conditions
Competition
Foreclosure
Fraud
Houses
Housing prices
Investors
Mortgages
Neighborhoods
Prices and rates
Profits
Public prosecutors
Real estate sales
Real property
Return on investment
title The flip side of real estate
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