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Jun 10 - Home flipping rate hits 9-year high and that could be troubles in the market


 
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 2 weeks ago '11        #1
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Sin 2140 heat pts2140
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Jun 10 - Home flipping rate hits 9-year high and that could be troubles in the market
 

 
An uptick in home flipping activity could indicate that conditions in the housing market are worsening

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Home-flipping has rebounded by one key measure. But that’s doesn’t make it an easy path toward becoming rich.

Just over 49,000 single-family homes and condos were flipped in the first quarter of 2019, according to a report released this week by real-estate data firm Attom Data Solutions. These homes comprised 7.2% of all home sales nationwide during that time period, representing the highest home-flipping rate since the first quarter of 2010.

But that’s not necessarily a positive indicator of the housing market’s strength, said Todd Teta, Attom’s chief product officer. The number of homes that were flipped was actually down 8% from the previous year to a three-year low. And the number of investors engaging in home flipping has dropped 11% over the past year.

In the first quarter, homes flipped sold for a median price of $215,000. With the median purchase price standing at $155,000, the gross flipping profit was just $60,000, down $8,000 from a year earlier to a three-year low.

“While the home flipping rate is increasing, gross profits and ROI are starting to weaken,” Teta said in the report. “If investors are seeing profit margins drop, they may be acting now and selling before price increases drop even more.”


Researchers previously described home-flipping activity as a “canary in the coal mine” that could presage a cooling housing market.

In the first quarter, the home-flipping rate was up year-over-year in 62% of markets nationwide, suggesting that this sentiment could be widespread and not just concentrated in overheated housing markets across the West Coast.

Despite the seemingly turning tides in the home-flipping market, one bright spot is the renewed interest that so-called ‘iBuyers,” tech firms that use algorithms to make instant home offers, have taken in the businesses. Zillow Z, -0.97% in particular, has said it is investing more money into its home-buying and flipping operation, Zillow Offers, which launched last year. Analysts and stock investors have thus far been receptive of the strategy.

Shares of Zillow ZG, -1.11% are up nearly 50% year today, whereas the Dow Jones Industrial Average DJIA, +0.30% and S&P 500 SPX, +0.47% are up only 11% and 15% respectively in that same time.

visit this link https://www.marketwatch.c .. _theo_homepage
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26 comments for "Jun 10 - Home flipping rate hits 9-year high and that could be troubles in the market"

 2 weeks ago '17        #2
Naga Sadow 44 heat pts44
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I'm waiting for the next crash. When those foreclosures come up for sale my wife and I are gonna cash in again.

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 2 weeks ago '12        #3
moth818 31 heat pts31
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 Naga Sadow said
I'm waiting for the next crash. When those foreclosures come up for sale my wife and I are gonna cash in again.

Same here

Patiently waiting
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 2 weeks ago '19        #4
Gold Face 2 heat pts
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Everyone is selling cause sh*t is so high
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 2 weeks ago '04        #5
Menace718 2 heat pts
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This market is unreal in New York. People aren’t even getting these houses appraised they are making fu*king numbers up. I live about an hour from the city and all of these sh*tbags coming up here and overbidding on houses by $10-15k pricing people out of a market here. It took a lot of aearching for me to get my house and I still feel like I overpaid for it but I hope this bubble bursts and people lose the value out of their houses overnight
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 2 weeks ago '07        #6
[MK] 
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It's a sellers market where I live (48198 Superior Township MI.) I'd love to buy a new place but I think I'm going to wait until the market takes a sh*t again. Looking for 3-10 acres with a 2000 sq ft house and pole barn. Most likely it will just be an empty plot of land because either the houses are stupid expensive or farm houses from the early 1900's
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 2 weeks ago '06        #7
Sammyboi22 1 heat pts
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 Menace718 said
This market is unreal in New York. People aren’t even getting these houses appraised they are making fu*king numbers up. I live about an hour from the city and all of these sh*tbags coming up here and overbidding on houses by $10-15k pricing people out of a market here. It took a lot of aearching for me to get my house and I still feel like I overpaid for it but I hope this bubble bursts and people lose the value out of their houses overnight
Same here in Louisville. Same day on the market these things go. Blows my mind. 1,200 sq ft going for $250,000. And this is fu*king Kentucky, the fu*k?
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 2 weeks ago '06        #8
Sammyboi22 1 heat pts
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 [MK] said
It's a sellers market where I live (48198 Superior Township MI.) I'd love to buy a new place but I think I'm going to wait until the market takes a sh*t again. Looking for 3-10 acres with a 2000 sq ft house and pole barn. Most likely it will just be an empty plot of land because either the houses are stupid expensive or farm houses from the early 1900's
Dangerous thinking. What if it takes three years and houses appreciate for 5% per year like they have been?

 2 weeks ago '10        #9
DannyDoubleBags 1 heat pts
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 [MK] said
It's a sellers market where I live (48198 Superior Township MI.) I'd love to buy a new place but I think I'm going to wait until the market takes a sh*t again. Looking for 3-10 acres with a 2000 sq ft house and pole barn. Most likely it will just be an empty plot of land because either the houses are stupid expensive or farm houses from the early 1900's
Bought a 1935 farmhouse on a little over an acre here in central jersey. We overpaid a little for it but man the privacy is worth it and it’s been a good time fixing up the small issues. Waiting to stack up some extra savings so I can redo the barn.

Good luck in your search.
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 2 weeks ago '04        #10
badboy600 18 heat pts18
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I have mine on the market right now. I paid 259 in 2013 and I have it listed for 299
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 2 weeks ago '17        #11
JacobWatch 8 heat pts
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Been having this convo over the past couple weeks

I don’t think prices will drop where I am, with the sudden hype over all the flipping I figure mortgage rates + prices should be on the rise

Just have to hold out and look for the good deals and you can still come up

But like dude said a couple posts up it’s tough out there...if he feels he over paid then the next person definitely isn’t paying that much for it especially after the added years of wear and tear

 2 weeks ago '08        #12
GoldBluded 737 heat pts737
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Its not regular joe and bob buying up their first homes on a record level. It is the rich are stocking up on homes with the intent of selling and/or storing their money in homes as a save haven for fiat. That is also causing the price to sky rocket. There was an article posted earlier this year that stated 2019 would be a perfect time to sell your home, looks like msn was actually correct.


 2 weeks ago '04        #13
ItAlY2BkLyN 241 heat pts241
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 Naga Sadow said
I'm waiting for the next crash. When those foreclosures come up for sale my wife and I are gonna cash in again.

only reason I haven't bought a condo in the mountains yet. Wanted to get out of my house and get a new one. But we have a lot of equity in this one. Should the market downturn, we'd be sitting good on our current home and would be able to scoop a condo on the cheep up in Breckenridge or Keystone.

 2 weeks ago '15        #14
lokeyrat 
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 DannyDoubleBags said
Bought a 1935 farmhouse on a little over an acre here in central jersey. We overpaid a little for it but man the privacy is worth it and it’s been a good time fixing up the small issues. Waiting to stack up some extra savings so I can redo the barn.

Good luck in your search.
What part of NJ?.. I live in NYC. I want to buy some farm land that is close to NYC as possible.

 2 weeks ago '10        #15
DannyDoubleBags 1 heat pts
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 lokeyrat said
What part of NJ?.. I live in NYC. I want to buy some farm land that is close to NYC as possible.
Monmouth county so central Jersey. I’m about an hour drive to the city. The commute was a little rough. There’s a lot of options for a good price in Howell, Farmingdale or Jackson though.
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 2 weeks ago '12        #16
OldBusiness 180 heat pts180
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Wife and I just sold a house she inherited and got 4 more in the atlanta area, all close to downtown(one is right in the Edgewood area.

To easy to sell a house in ATL right now, gone eat good before anything happens lol
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 2 weeks ago '07        #17
acwmich 
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 badboy600 said
I have mine on the market right now. I paid 259 in 2013 and I have it listed for 299
You should be making more than that if you bought in 2014
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 2 weeks ago '11        #18
bkamagnum 
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If everyone thinks it's going to crash it's not going to crash. I remember during the last crash there was only one guy (media-wise) that predicted it. It just the way the cycle works. Contractions and expansions. No one can really tell how extended the market is. Everything is going sideways for awhile.

 2 weeks ago '04        #19
badboy600 18 heat pts18
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 acwmich said
You should be making more than that if you bought in 2014
Theres a lot of new construction going up around me so I'm competing against that. We also priced it to sell quickly because my wife wants a new 500k monstrosity that we dont need. I have a contingent offer with the new builder to hold our lot but they wont start building until I sell my existing home because you cant have two FHA mortgages at the same time. If someone comes along with the cash the builder can sell the lot from under us.

 2 weeks ago '04        #20
zone3cp 5 heat pts
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 Naga Sadow said
I'm waiting for the next crash. When those foreclosures come up for sale my wife and I are gonna cash in again.

Awaiting myself.....Next crib gonna be lake front property. Their loss my gain.
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 2 weeks ago '17        #21
Naga Sadow 44 heat pts44
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 zone3cp said
Awaiting myself.....Next crib gonna be lake front property. Their loss my gain.
I just want to retire. My wife and and I plan to retire at 42 but we want to retire earlier, like yesterday. So if her and I get a few houses in the low and rent them out we could make out really good in Charlotte.
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 2 weeks ago '17        #22
Naga Sadow 44 heat pts44
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 OldBusiness said
Wife and I just sold a house she inherited and got 4 more in the atlanta area, all close to downtown(one is right in the Edgewood area.

To easy to sell a house in ATL right now, gone eat good before anything happens lol
I remember our first house in RI we bought for $260k and right before the crash we sold it for $480k. The house we purchased in Charlotte we bought for $130k and is now worth $240k. I need me some more flips. My wife and I just want to be lazy all day.

 2 weeks ago '04        #23
zone3cp 5 heat pts
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 Naga Sadow said
I just want to retire. My wife and and I plan to retire at 42 but we want to retire earlier, like yesterday. So if her and I get a few houses in the low and rent them out we could make out really good in Charlotte.
You got a good one obviously she bought and can see each other’s vision. Y’all bought into each other.
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 2 weeks ago '04        #24
zone3cp 5 heat pts
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 OldBusiness said
Wife and I just sold a house she inherited and got 4 more in the atlanta area, all close to downtown(one is right in the Edgewood area.

To easy to sell a house in ATL right now, gone eat good before anything happens lol
That’s cheap now anywhere near or in the city is a great investment.

 2 weeks ago '04        #25
RatedQue 51 heat pts51
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Lady bought the condo I m in for 320K in 2013, ended up getting in 2015 for 140K, right now comps are going for 240K in the building. If it gets anywhere near 300K i might have to sell it.

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