“A new study shows there were 41 single-family home flips in the third quarter of this year, six fewer than in the second quarter, when flipping activity peaked in Shasta County, RealtyTrac reported Wednesday.
There were four more homes flipped in the third quarter compared with a year ago.
The RealtyTrac report shows investors in Shasta County made a gross profit of $57,327 on each flip in the third quarter, a 22 percent increase over a year ago.”
Excerpt from redding.com as penned by David Benda yesterday at this link about flipping homes in Shasta County. Good article, interesting reading.
As far as flips affecting the market, it’s made it harder for flippers and fixer buyers. There is a lot more competition for candidate homes. We have standing requests for likely flips from investors and fixer buyers.
For many regular home buyers, it really helps to have flipped homes in our inventory. We love showing a well done flip. Many people don’t have the required imagination or resources to see a house in need of repair as someplace they can call home. Put in new flooring and paint, and suddenly it’s transformed.