(마이애미 한인) MIAMI – Oct. 17, 2012 – Buying up homes, rehabbing and reselling them for a profit was big during the housing boom. But when the housing market started to slump, house flippers nearly vanished.
As the housing market recovers, house flipping may be showing signs of re-emerging, according to The Washington Post.
(마이애미 한인) In the first half of 2012, house flips increased 25 percent compared to a year earlier, according to RealtyTrac. The average profit on each property is $29,342, according to the real estate research firm.
“There are flippers in any market, but a market where home prices are appreciating is much more forgiving for flippers than a market where prices are depreciating,” says Daren Blomquist, vice president of RealtyTrac. “We have turned that corner in a lot of places in the last six months, so that’s going to attract flippers.”
(마이애미 한인) Areas hit hardest in the housing crash are seeing some of the largest increases in flipping as investors buy foreclosures and short sales at large discounts. Phoenix has had the highest number of reported flips, followed by Las Vegas, Los Angeles, Miami and Atlanta.
Source: “Flipping Houses Is Once Again a Booming Business,” The Washington Post (Oct. 14, 2012)
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