Deprecated: implode(): Passing glue string after array is deprecated. Swap the parameters in /home/customer/www/bargerrealestate.com/public_html/wp-content/themes/noo-citilights/framework/functions/noo-html-featured.php on line 595

House flipping is back and Tampa Bay again is near the top

Posted in Uncategorized on by

House flipping enjoyed a big spurt of activity in 2015, and there were few busier places for flipping than the Tampa Bay area.

Among 110 metro areas with at least 250 flips, the bay area tied with Las Vegas and Fresno, Calif., for second place in flips as a percentage of total single-family home sales — 9.2 percent.

Only Memphis at 11.2 percent had a higher share, RealtyTrac reported.

A flip is defined as a property sold at an arms-length sale for the second time in a 12-month period. By that measure, Tampa Bay had 4,561 flips.

“It was a banner year, probably the best year we’ve had on sales,” said Chris Smith, whose Tampa-based Bay to Gulf Holdings does its own flips and also sells properties at wholesale prices to other flippers.

Fueled by the interest in such popular TV shows as Flip or Flop, flipping hit levels last year not seen since 2007 as the housing bubble was about to burst. According to RealtyTrac, 5.5 percent of all single-family home sales in 2015 were flips, up from 5.3 percent the previous year, which marked the first annual increase in four years.

Read More

Tags:
About Author

John William is a cum laude graduate of the University of Miami, and has spent his lifetime in sales and marketing. The fourth generation to join his family business, John William manages all luxury residential sales and transactions within the Tampa Bay and South Florida markets. A keen industry insider with a finger on the pulse of the area, He is an expert identifying high-return acquisition and development opportunities for hungry investors both large and small while simultaneously working with homeowners and homebuyers to buy and sell the home of their dreams… often times without the need of the MLS or a For Sale sign. He also oversees all digital and print marketing for the company, and handles all sales training for new and established agents alike. He is a member of the Board of Directors of Brookwood Florida, the oldest charity in Florida, and works to raise millions of dollars annually for local charities and museums.