According to the San Diego Union Tribune last month, house flipping has gone up to 3.4%, which is more than double the rates of 1.6% that we were seeing a year ago.  However, some may wonder, "What is house flipping exactly?"  House flipping is when you buy a house or property with the intention that you will turn around and sell it for a profit.  A lot of the logistics in house flipping depend on what’s going on in the real estate market.  If the market is in the midst of a boom, flippers can almost name their prices.  However, if the market is slow, like when we first experienced our downturn in 2007, these houses could stay on the market for months.

When it comes to house flipping, many people think of foreclosures and fixer uppers.  This isn’t always the case.  During the real estate boom in the early 2000s, flippers were buying new construction houses and then selling them a few months later for a profit.  In today's market, savvy investors are purchasing foreclosure properties on the courthouse steps, making some basic upgrades/repairs, and then selling the house for a higher price.  Some of these homes are desirable, so it's exciting that FHA has temporarily suspended it's 90-day title seasoning rule.  This means FHA buyers can now be in the market for an investor-owned home, along with the conventional and VA buyers

If you’re interested in house flipping, don’t hesitate to contact me so we can talk about your options.
 
For more information on house flipping and tips on how to do it, click here