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Archive for the ‘Las Vegas Home Flipping’ Category

Search for any home for sale through the MLS in Las Vegas for free. Summerlin, Henderson, Green Valley, SW, NW and North Las Vegas too.

Thursday, July 31st, 2014

Hi there,

Are you curious to see what’s happening in our Las Vegas Housing Market?  Check it out on my free home search.  One home or many homes, if  you like them give me a call and let’s check them out.  Penny O’Brien @ 702.321.9383

I have another site that is strictly for the New Homes Sales in Las Vegas, Summerlin, North Las Vegas, the NW, SW and Henderson.

I work nights and weekends so don’t hesitate to call anytime.  Thank you for your time and have a good day/evening.

P.S. I can help you find a rental too if that is what you’re looking for.

Home Flipping, Las Vegas Style. Flipping means buying a house, then flipping within 6 months, give or take a few days.

Sunday, February 9th, 2014

Hi There,

Home flipping, a trend of Las Vegas’ housing bubble, became more popular and a lot more lucrative last year amid surging prices.

The fast buy-and-sell real estate deals consists of  7.2 percent of all single-family home sales in the Las Vegas area last year, up from 6.3 percent in 2012, via to a new report from RealtyTrac.

The research firm defines flipping as buying a house and then selling it within six months.

Local property owners booked an average gross profit of $44,501 on last year’s flips, more than double what they earned in 2012, $20,872.

Gross profits are the sales price over the purchase price and do not account for costs the flipper may have acummulated after buying the home, such as renovation work.

Nationwide, flipping comprised 4.6 percent of SFR  home sales last year, up from 4.2 percent in 2012, RealtyTrac found. U.S. flippers booked gross profits of $58,081 per deal in 2013, up 27 percent from $45,759 in 2012.

Flipping was crazy fast during Las Vegas’ doomed housing boom last decade, when investors with no real estate expertise — but received easy obtained loans — bought property and sold it for profit a short time later.

This caused  prices to high rise, as two-story homes that today sell for $100,000  sold for around $200K or more seven or eight years ago.

Prices plunged during the recession but now are rising at one of the fastest rates nationally again, thanks to investors who have bought cheap homes in bulk the past few years to turn into rentals.

The surge has created new opportunities for flipping.

The median sales price of previously owned single-family homes in Southern Nevada in December was $185,000,  a major increase of 24% according to the Greater Las Vegas Association of Realtors.

Penny O'Brien
Las Vegas | Henderson | Summerlin Realtor/Real Estate Agent

Cell:  702.321.9383

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