Home flipping is making the first big news of the year as record breaking numbers are being hit. Home flips accounted for over 156,000 sales last year, up 16% from 2012. This was 4.6% of the over all market and the numbers look to continue growing.
Discounts on these homes are still huge, usually 13% below market value. So if you’ve got buyers lined up don’t be surprised and be sure to let them know the deal they’re getting.
I know house flipping has seemed to be struggling at times but 2014 looks to be an amazing year for the industry. I’m meeting colleagues all the time who tell me they’re starting to take flipping seriously.
I encourage all of you to make flipping part of your agenda for this year. Start small or start big – but just get started. As with every other aspect of the real estate biz, I’m here to help.