Home Flipping Makes Comeback
A recent report indicates that house flipping, or the process of buying, repairing, and then re-selling homes in less than two years for profit, has made a comeback and reached levels not seen since before the housing crisis a decade ago.
In the fourth quarter of 2018, over 10% of homes sold in the US were flips, the highest fourth quarter level in the last twenty years. Rampant house flipping was partially blamed for the housing crisis when prices declined, leaving many home flippers with homes that were worth less than what was owed. Home flippers today, however, generally have much higher profit margins and more of a cushion if housing prices fall again.
Buying or refinancing a home in metro Atlanta or anywhere else in Georgia? Contact Peachtree Mortgage Services, Inc. at 770.481.0052 or firstname.lastname@example.org.