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Fewer Homes Flipped In First Half Of Year
The opportunity to buy a home at a discount, fix it up
and flip it for a profit is on the decline in
The latest RealtyTrac study of the
market shows there were 33 percent fewer single family homes flipped in the
state during the first six months of this year, and 35 percent fewer in metro
"Folks are making a
gross profit of over $28,000, which represents a 16 percent return on the
initial investment,” Blomquist said. “Those are great numbers, still for
But Blomquist says with fewer homes on the market
than six months or a year ago, the best time to flip a home in
He says that means the overall market is very healthy, robust and attracting a lot of interest.