Flipper was a dolphin, and a TV icon back in the 60’s. Flipper in present day real estate vernacular became a popular term after the 2008 crash.
According to almost every Real Estate news agency in the US, foreclosures and the availability of REO properties has been on the decline for the past two years. However, a recent online article by DS news reports house flipping could be making a comeback.
The article identifies 10 cities across the nation where the house flipping market is still strong. These markets still have large numbers of distressed properties at below market prices. In these markets, flip rates have increased, but are still substantially below the rate of house flipping going on during the crash years after 2008.
“Is house flipping Dead? No, I don’t think so. It has just become more difficult to find below market properties to flip.”
As a matter of fact, house flipping in some markets has become better. As a local investor in the Colorado Springs Market, our flip houses are seeing more buyer activity due to the decrease in inventory.
The low mortgage rates are also keeping the market moving. The deals are still hard to find, but if you know how to find them, there is still money to be made.
So, jump in the water and be like Flipper the dolphin. The water is nice, but you have to watch out for the sharks. Just like the dolphin you too can be an icon. A house flipping icon in your market!