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Denise Does it Again !

Congratulations to Denise Rubin for making it to the top of Berkshire Hathaway HomeServices Florida Realty’s Sale Professionals based on Gross Commission Income in 2013.

Your success throughout this past year is due to your drive, passion, and commitment to deliver only the highest level of service to each and every one of your customers.I am proud to have you as ambassadors of our company as you are exceptional Sales Professionals!

We appreciate your continued stellar contributions to our

“Family of Services” and to our industry.

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Miami Masion

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U.S. home flipping UP 16% in 2013

RealtyTrac today released its Year-End and Q4 2013 Home Flipping Report. It found 156,862 single-family home flips (a home purchased and subsequently sold again within six months) in 2013, up 16 percent from 2012 and up 114 percent from 2011.

Homes flipped in 2013 accounted for 4.6 percent of all U.S. single family home sales during the year, up from 4.2 percent in 2012 and up from 2.6 percent in 2011.

However, the number of flipped homes declined quarter-by-quarter in 2013. In the fourth quarter, flips accounted for 3.8 percent of all sales, down slightly from 3.9 percent of all sales in the third quarter and down from 7.1 percent of all sales in the fourth quarter of 2012 – the highest percentage of sales represented by flips in a single quarter since RealtyTrac began tracking flipping data in the first quarter of 2011.

The average gross profit for a home flip – the difference between the flipped price and the price the flipper purchased the property for – was $58,081 for all U.S. homes flipped in 2013, up from an average gross profit of $45,759 in 2012. The average gross profit for homes flipped in the fourth quarter was $62,761, up from $52,746 in the fourth quarter of 2012.

The report also shows the biggest increases in flipping nationwide occurred on homes with a flipped price of $400,000 or more. Although flipping increased across all price ranges, flips on homes with a flipped sale price above $400,000 increased 36 percent from 2012, while flips on homes with a flipped sale price at or below $400,000 increased 17 percent from 2012.

The average time to complete a flip nationwide was 84 days in 2013, down from 86 days in 2012 and down from 100 days in 2011.

“Strong home price appreciation in many markets boosted profits for flippers in 2013 despite a shrinking inventory of lower-priced foreclosure homes to purchase,” says Daren Blomquist, vice president of RealtyTrac.

“For the year, 21 percent of all properties flipped were purchased out of foreclosure, but that is down from 27 percent in 2012 and 32 percent in 2011,” Blomquist adds. “Meanwhile, flipped homes were still purchased at an average discount of 13 percent below market value in 201 – the same average discount as 2012 – indicating that investors are finding discounted buying opportunities outside of the public foreclosure process, particularly in those markets with the biggest increases in flipping for the year.”

Major metro areas with big increases in home flipping in 2013 compared to 2012 included Virginia Beach (up 141 percent), Jacksonville, Fla., (up 92 percent), Baltimore, Md. (up 88 percent), Atlanta (up 79 percent), Richmond, Va., (up 57 percent), Washington, D.C. (up 52 percent) and Detroit (up 51 percent).

Major markets with big decreases in home flipping in 2013 compared to 2012 included Philadelphia (down 43 percent), Phoenix (down 32 percent), Tampa (down 17 percent), Houston (down 17 percent), Denver (down 15 percent), Minneapolis (down 9 percent), and Sacramento (down 5 percent).

Real Estate photography & Videography in Miami

© 2014 Florida Realtors®

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