Flipping; Turning into a Dangerous Game?

Posted To: MND NewsWire

CoreLogic says flipping is back. The term applies to the act of buying, renovating and/or repairing a house, then reselling it, all within a short timeframe. Investors who specialize in flipping are always out there, but when prices are rising, or appear about to, lots more people join in the game. Bin He, writing in CoreLogic's Insights blog, looked at the current levels of flipping, using as the criteria a house that is bought then sold in under 12 months. He found that 6.2 percent of home sales in the first quarter appeared to be flips . This matches the previous post-crash high in the first quarter of 2013. But, he points out, it was a different world back then. Prices were just beginning to rebound from their 2012 lows, the supply of homes was outstripping demand, and distressed sales...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Mortgage News Daily https://ift.tt/2J441Ca