{"id":4937,"date":"2017-06-09T00:00:00","date_gmt":"2017-06-09T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/investors-back-away-from-home-flipping\/"},"modified":"2017-06-09T00:00:00","modified_gmt":"2017-06-09T00:00:00","slug":"investors-back-away-from-home-flipping","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/investors-back-away-from-home-flipping\/","title":{"rendered":"Investors Back Away From Home Flipping"},"content":{"rendered":"

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Investors are retreating from flipping<\/a> houses<\/a>, showing skepticism that the practice will continue to pay off. About 43,615 single-family homes and condos were flipped in the first quarter of 2017, down 8 percent from the previous quarter and 6 percent from a year ago, according to ATTOM Data Solutions\u2019 Q1 2017 U.S. Home Flipping Report. It represents the lowest number of flips in two years. ATTOM Data Solutions defines a flip as a home that has been sold twice within a 12-month period.<\/p>\n

Home flips accounted for 6.7 percent of all single-family and condo sales for the quarter, one-third of which were purchased with financing<\/a>. That\u2019s up from 31.9 percent that were financed in the fourth quarter of 2016, setting the highest level since the third quarter of 2008.<\/p>\n

\u201cWith low interest rates and available lenders<\/a> willing to provide non\u2013owner-occupied loans<\/a>, we are seeing many of our investors across Southern California take advantage of leverage financing when participating in housing<\/a> flips,\u201d says Michael Mahon, president of First Team Real Estate<\/a>.<\/p>\n

The states with the highest home-flipping rates in the first quarter of 2017 were:<\/p>\n