Do just once what others say you can’t do, and you will never pay attention to their limitations again.
~James R. Cook
More homes were flipped in Maricopa County than any other U.S. county, according to a new report by RealtyTrac. Here are the counties with the most house flips in the past year.
More homes were flipped in Maricopa County than any other U.S. county in a recent 12-month period, according to a new report.
Surprised? Some market watchers might be. Metro Phoenix tops the list for flips even though home prices are up and sales are down. Also, foreclosures have plummeted, and it’s pretty tough to find a cheap lender-owned home to buy, renovate and resell for a profit.
But 4,632 houses were flipped in the Valley between April 2013 and March 2014, according to real estate data firm RealtyTrac. The average original purchase price of the houses was $172,547, and the average flipped price was $226,761. The profit depends on how much money the flipper spent on the house before reselling it.
Julie Bieganski, who has been flipping homes in the Valley since the 1990s, said central Phoenix is now a great market for flippers who may have bought houses a few years ago. She owns two houses near 10th Street and Camelback Road and said they are prime for renovating and reselling, but they are rented now.
“We could make a fortune if we did a complete renovation and flipped them, but for now we are doing pretty well renting them out,” Bieganski said.
The Phoenix area may have topped the list for flips, but those deals are slowing. The latest data from Arizona State University’s W.P. Carey School Of Business shows home flips were down 13 percent in March compared with a year ago.
The Peck Team, a Mesa real estate group, tweeted it’s much tougher to flip a home in Phoenix now because it’s a buyer’s market.
Chandler real estate agent Matthew Coates tweeted it’s difficult to find the deals on the houses needed for a profitable flip.
Los Angeles County ranked No. 2 on RealtyTrac’s list, with 3,610 flips. At No. 3 is Nebraska’s Douglas County, home to Omaha, where 3,095 houses were flipped.
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Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial Investment Real Estate Broker in Arizona now for 20 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.
WHETHER YOU LEASE OR OWN
NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.
we are at on the a rise of the cycle in Commercial Real Estate. so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix. The prices on deals I may get you will not be around forever.
WAITING TO SELL YOUR LAND ? TIMES CHANGE / IT’S TIME
We barely could give land away the last few years, but times are changing. Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.
If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us.
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PLEASE NOTE, I CHANGED BROKERAGES BUT CELL PHONE AND E-MAIL STAY THE SAME.
Walter Unger CCIM
Associate Broker, West USA Commercial Real Estate Advisers
7077 E. Marilyn Road, Bldg 4, Suite 130
Scottsdale, AZ 85254
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