SINGLE FAMILY HOME FLIPPING INCREASES 19%

SINGLE FAMILY HOME FLIPPING INCREASES 19%

IN FIRST HALF OF 2013 WHILE PROFITS SOAR: Single-family home flipping is on the rise as flippers see growing profits from their endeavors in most markets, according to a report released by RealtyTrac.

The volume of house flipping increased 19 percent from the first half of this year to the first half of last year, according to RealtyTrac.

At the same time, profits from flipping increased 246 percent.

Over the first half of this year, investors earned an average gross profit of $18,391 per home flipped, up from $5,321 in the first half of last year and a vast improvement from the first half of 2011 when flippers lost an average of $13,206 on flips. The $18,391 represents a 9 percent return on investment. No Need to Fear Rising Mortgage Rates

History shows us that we don’t need to fear the recent spikes in mortgage rates because they won’t have an impact on home prices, according to Fannie Mae researchers in a new report.