Mark Dagel PWB || Mark Dagel PWB || Mark Dagel PWB
It seems to be pretty easy on TV. Buy up some house, add some amenities and sell it at a healthy profit.
It’s not, however, all such luring shows that are driving flipping marketplace today, says Mark Dagel PWB. The business is based on pure and simple prices concept. This is all because of lack of good quality, proper amenities, and awareness among people which turns your key home for sale. Hoard of these business practices has created a seller’s market across the nation, even for those individuals reselling their homes.
The flipping business after settling down in 2014 again showed some moderate stir. Mark Dagel PWB reveals that a recent report from RealtyTrac, which describes a flip as a property bought and then resold within a period of 12 months, showed that the share of house flipping has rose to 20% in early 2015 and up by 3% in the same period a year ago. This has again bought in tensions for both the buyers and sellers of housing business.
According to Mark Dagel PWB, the flipping business showed tremendous changes when compared to the past decade. Now, the investors don’t take heavy mortgages which they used to take previously. House flipping has already broadened its roots in the nation’s top metro cities including, San Diego, Seattle, Baltimore, Buffalo and if everything goes on in a similar manner, it is soon expected to reach other parts of the nation.
Responsible house flipping is necessary for housing market whereas irresponsible house flipping often leads to overheating of housing marketplace. Today, almost 70% of the buyers use cash for the property whereas there are only 30% who don’t use cash. This creates troublesome situation for the new, entry level buyers because they are investing in the tightest housing marketplace in the history. They can’t compete with the cash buyers.
Investors showed a unique point in this scenario. Mark Dagel PWB narrates an incident where when one of the investors was asked about the house flipping, he replied in an astonishing manner. He told, it’s safer to flip a lot because the market is going crazy and one can easily make around $200,000 to $500,000 within few months.
Neighbors, on the other hand, showed deep concerns about the issue. They told, almost 8.42% of the single families residing nearby their place have sold their house and many others have already put their property on auction.
A recent home flipping report shows that the number of home flippers has rose to levels beyond those seen in 2007, while the number of individual investors remained same.
In conclusion, Mark Dagel PWB establishes, we can say that home flipping is at its peak. Around, 179,778 homes were flipped last year which is the second highest level in house flipping business behind that in 2007. However, these numbers are still below 2005 peak, which are 259,192. Share of flipping home in the marketplace contributes to 5.5% of the sales from 5.3% since 2014.
Contact: MD@iCCMV.com MarkDagel.com #Mark Dagel Georgia, #Mark Richard Dagel