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ARAMCO Report - Thursday May 7, 2015

Posted by The Aramco Group on Thu, May 7, 2015 @ 14:05 PM

A Place in the Market for Flipped Homes

Relatively high gross returns on investment demonstrate that there is still a place for house flipping in the national and local real estate markets. RealtyTrac revealed that 4 percent of total single-family home sales, or 17,309 homes, were flipped in the first quarter of 2015. San Diego County accounted for 6.1 percent of the total volume or 1,055 homes.

There is a demand for move-in ready houses that have been retrofitted for modern tastes especially as there is a shortage of new housing starts recently and inventories are growing slim.

The average gross profit, nationally, for completed flips in the first quarter was $72,450, up from $65,290 in the last quarter of 2014. The average gross return on investment (ROI) was 35.1 percent for completed flips in the first quarter, which was only slightly down from 35.3 percent in the fourth quarter of 2014.

Those looking to sell their home and then purchase a new one will find mortgage rates near an all-time low. Conforming no point 30-year fixed mortgages are averaging 3.875 percent while 15-year mortgages are averaging 3.125 percent.

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942. This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

 

Topics: home purchase, RealtyTrac, Flipping Homes, 30 year fixed rates, home selling

ARAMCO Report - Friday February 20, 2015

Posted by The Aramco Group on Tue, Feb 24, 2015 @ 11:02 AM

According to the January 2015 Real Estate Investor Activity Report from Auction.com, investors bidding for property both at live events and online are favoring flipping homes over a hold-to-rent strategy. This despite the fact that demand for rental housing continues to grow. In the mortgage market there was upward pressure on rates following news that Greek officials, reached a deal with the EU for a 4 month extension of the Greek bailout. Conforming no point 30 year fixed rates average 3 7/8ths with 15 year rates closer to 3 1/8th. And now for something completely different… Did you know that the White House is not free for the president? He actually receives a bill for food and expenses every month.

For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942. This is Mehran Aram with today's ARAMCO Report.

Ask Mehran Aram

Topics: real estate, Greek Debt Crisis, White House, Flipping Homes, 30 year fixed rates, renting, President