John Bogna
Houston zip code 77088 accounts for the highest number of “home flip” sales in the area, according to data gathered by Attom Data Solutions, the company that manages the largest real estate database in the country.
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Source: swamplot.com
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Most people have at least heard the term “flipping” in association with real estate. When a house-single family home or a condominium-gets sold twice in a year in “arm’s length transactions” as recorded by public record. Attom’s data shows the 77088 zip code accounts for 18.7 percent of home flipping sales.
In the first quarter of 2017, over 43,000 homes were flipped in the US, and home sales based on flipping properties rose from 5.8 to 6.7 percent.
Nationwide, the amount of people financing flipped homes has also risen somewhat, even as the return people got after flipping a property declined, and the rate at which people were making these sales reached a plateau.
So even though people are getting less money when they sell, and not selling as much, they’re still financing, to the tune of 3.5 billion (up from 3.3).
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