Is home flipping a thing of the past or still a profitable return? The answer is YES!!
According to the most recent research released from RealtyTrac for the first quarter of 2015, it shows that Florida still tops the nation on home flipping for single-family homes.
In Florida, 6.5 percent of all single-family home sales in the state were flips. A flip is defined as a property sold at least twice as part of an arm’s-length transaction within a 12-month period.
Southwest Florida’s flip rate was below the state average, but above the national one.
Bottom line is, buyers want a move-in ready home that are remodeled with more modern taste, in fact, my husband and I bought our home last year and it was a flip. We chose our home because nothing on the market was as move-in ready with all the upgrades we wanted, so we were willing to spend a little extra to not have to do anything. Sure, there were nice homes on the market, but all of them needed to be upgraded with current modern trends, which is where the flip comes in. My buyers will spend extra to get these. Sellers, don’t cut corners, do the upgrades and it will be a win-win in the end.
Looking for a great deal in Palm Beach County to flip? Let me know so you can get notifications the minute a property hits the market. SIGN UP HERE!