A total of 30,013 single family homes were flipped — sold as part of an arms-length sale for the second time within a 12-month period — in the second quarter, accounting for 4.5% of all single-family home sales during the quarter, according to RealtyTrac’s Q2 2015 U.S. Home Flipping Report.
Home flipping isn’t the share of home sales it used to be; it stood at 3.7% of the total homes sold in the first quarter of 2014. But there’s still gold in them thar hills, so to speak, as profits from flipping a house are up to 30%. Notably though, the returns in the top 14 markets are more like 70-80%.
While the share of flipped homes is shrinking, the average sales price of single-family homes flipped in the first quarter was $55,574 higher than the average original purchase price. That’s up from a year ago when the average gross profit per flip was $51,805, according to the Q1 2014 U.S. Home Flipping Report from RealtyTrac.
Layton has over 35 years of experience in financial services and as a corporate leader. He worked for nearly 30 years at JPMorgan Chase and its predecessors, starting as a trainee and rising to vice chairman and member of the three-person Office of the Chairman, retiring in 2004..
"The questions become, ‘Do the courts find a distinction between housing policy and lending, as in whether to make a loan and how you price that loan? Does the government get broader discretion than the private sector?’ ” Andreano said. “It’s not fleshed out.” Read More