ReCasa Financial Blog

RealtyTrac recently released its year-end 2013 Home Flipping Report.  The report states that 156,862 homes were flipped in 2013.  These homes were purchased then sold within six months.  This number of flipped homes is up 16% from 2012 and 114% from 2011.  The average profit for all homes flipped in 2013 is $58,081, while it was $45,759 in 2012.

Rehabbed properties are becoming a big success for real estate investors .  During 2013, 21% of all rehabbed properties were previous foreclosures, and 4.6% of home sales were rehabbed single-family properties .  The number of rehabbed single-family properties sold increased from 4.2% in 2012 and 2.6% in 2011.

It was reported that home prices went up an estimated 10% between December 2012 and December 2013.  In December 2013, 16.2% of all home purchases were distressed properties.   According to RealtyTrac’s Year-End 2013 U.S. Residential & Foreclosure Sales Report, more than one-quarter of foreclosed homes in the 10 largest U.S. cities are still being processed.  It looks like there will still be a number of distressed properties in 2014.

How is the increase of rehabbed properties helping the housing recovery?

The post Year-End Home Flipping Report & Distressed Properties Report first appeared on ReCasa Financial Group.