Experts Give House Flipping Tips

According to new data, house flipping is experiencing a resurgence. Flipped homes made up 4.6% of all single-family home sales last year in the United States, a 0.4% increase from 2012. The Vice President of RealtyTrac, Daren Blomquist said, “strong home price appreciation in many markets boosted profits for flippers in 2013, despite a shrinking inventory of lower-priced foreclosure homes. For the year, 21% of all properties flipped were purchased out of foreclosure, but that is down from 27% in 2012 and 32% in 2011.” Experts have given a few tips to help house flippers, such as knowing your market, search for flippable houses in unconventional ways, never buy a house you could not make money on by selling the next day, and pay attention to local and national housing data. More here

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