House flips were all the rage in 2016, according to a report from Attom Data Solutions– about 193,000 single-family homes and condos were flipped in 2016, says the report.It’s easy to see why – TV shows tout home flipping and all the customization flipping a home has to offer – whether you are in it as an investor of real estate, or you are interested in flipping a home with personal homeownership in mind!
Realtor.com says this trends upwards from 3.1% from 2015, although it’s still 43% lower than the peak of 276,000 in 2006.
The only thing certain in the future for home flipping is its uncertainty, as foreclosures are fewer with the recovery of the economy.
Have you considered flipping? Seasoned real estate professionals know the hard work flipping requires, whereas newbies don’t always realize the work it takes.
Issues renovating a property are apt to arise in the midst of a project. Bumps in the road can derail a flip, and cost more money on the way.
For more on the home flipping boom, check out this blog.