Profits Hit New High, Flips At 5 Year Low
Despite the number of flipped homes hitting a five year low, the gross returns for investors hit a new high in the third quarter of 2014. According to RealtyTrac®, the average gross profit per flip was $75,990 in Q3 of 2014. So with record profits and home prices soaring the past two years, you would think all the home flippers would be back at it, but that doesn’t seem to be the case. Are they fearful of losing it all in another housing bubble, or is something else holding them back?
Why Profits Are At Record Levels
The nationwide home price appreciation that started in the beginning of 2013 appears to be the primary reason for record profits across the board. With home prices jumping 15% - 30% or more in many markets, it’s only logical that the profits for home flippers see the same spike, possibly even more pronounced. With the inventory of homes for sale remaining low, home flippers have the advantage of putting newly renovated houses in front of hungry buyers looking for a move-in-ready property, a definite recipe for bidding wars and higher selling prices.
Additional Thoughts On Home Flipping (Video)
Zillow Partnership Brings Exclusive Agent Presence
Zillow is currently the undisputed leader in domestic real estate search traffic, so it made perfect sense for Better Homes and Gardens Real Estate Metro Brokers to sign an exclusive partnership agreement for all company listings. The deal was finalized last month and was designed to give Metro Brokers' agents sole agent presence on their listings, making the listing agent the go-to resource for property information.
Partnership Benefits For Home Buyers
The partnership provides Zillow users with a better experience when inquiring about a Metro Brokers listing on both the mobile, and the desktop versions of the site. When calling or submitting an email inquiry, users are now put in direct contact with the actual Metro Brokers listing agent, not a handful of rookie agents paying for exposure. Buyers will appreciate getting the information they need about a property without being hounded by multiple agents, all of which are only concerned about picking up new business.
Removing the advertising agents from our listings reduces the on-page clutter and eliminates the confusion of who to turn to for additional listing information. After all, who knows more about a home for sale? The listing agent who is working directly with the seller, or the agents paying Zillow big bucks to appear next to random listings in hopes of picking up business? By eliminating all but the actual listing agent, we’ve provided a direct route for home buyers to get the best information on all BHGRE...
Prepare Your Home Now To Prevent Costly Damage
With extremely cold air moving in from the north, temperatures in the Atlanta area are forecast to reach the low 20’s within the next week. Although temperatures will likely stay above freezing during the daylight hours, you shouldn't risk a burst pipe when the temperature drops at night.
This weekend may be the best time to go ahead and prepare your home for winter, especially if temperatures drop lower than forecasted. Tuesday’s low may reach 20 degrees with 20 mph winds, so exposed pipes could be an issue.
How To Winterize Faucets/Pipes In Unheated Areas
- Disconnect water hoses from outdoor hose bibs. Drain the water from each hose and store them for the winter.
- Close the water line shutoff valves for all exterior water fixtures. Shut off valves can typically be found under sinks, in your crawl space or basement, near your water heater and/or main supply lines.
- Open/turn on each of the exterior faucets to bleed the remaining water from the lines.
- Install covers on each exterior faucet for additional protection from the cold....
The Importance Of Accurate Listings
As an agent, I need access to listings that are updated immediately, and with accuracy. Whether it's a buyer, or seller's market, accessing listing data plays a key role in my success as a top Atlanta REALTOR®. The ability to view the newest listings, or one that just closed today, is an essential part of my ability to give clients a competitive advantage.
This is why I use the MLS when searching properties for clients or researching market trends. For consumers, direct access to all listing information from the MLS is usually not available as it is typically restricted to agents only, therefore consumers must visit broker sites or third-party portals to view property listings.
Better Public Data From Broker Sites
Recently, the National Association of REALTORS® (NAR) took steps to give consumers a much better online experience on broker owned websites displaying properties from Multiple Listing Services (MLS) data feeds. Currently, MLS restrictions in many markets prevent broker sites from displaying sold listing data. They also have varying standards on how quickly listings must be updated by individual brokers.
Potential Changes To Public Data Feeds
NAR is working to change MLS policies to give individual brokers increased access to shared listing data. Specifically, NAR seeks to require each participating MLS allow sold listing data in public display feeds. This would open up massive amounts of market data and provide accurate sold search results on public facing sites. This could make listing data for properties that have sold, available...