HERITAGE HOME IMPROVEMENTS

  • Home
  • CURRENT SPECIALS
    • LINKS >
      • ABOUT US >
        • Send us Your Plans
        • CONTACT US >
          • Feedback Form
          • Testimonial Form
          • Employment Application
          • Website Survey
        • TESTIMONIALS
        • WORKMANSHIP WARRANTY
        • SERVICE AREAS
        • CHOOSING A CONTRACTOR
        • OUR BLOG
  • Vieques Contractor
  • SERVICES
    • ROOFING COMPANY
    • HERITAGE ROOFING CT
    • GENERAL CONTRACTING
    • REMODELING & ADDITIONS
    • WINDOWS
    • CHOOSING A WINDOW
    • SIDING
    • BATHROOM REMODELING
    • KITCHEN REMODELING
    • CUSTOM BUILT INS
    • CUSTOM KITCHEN CABINETS
    • DECKS
    • PAINTING
    • DOORS
    • ROOF & SIDING CLEANING
    • POOL HOUSES & PATIOS
    • GUTTER SERVICES
  • GALLERY
    • Residential
    • Commercial
  • CURRENT Projects
  • PAST PROJECTS
    • Hartford & Surrounding Areas >
      • WYLLYS SAINT JOHN'S LODGE No. 4
      • Meriden Arms Motel / 1899 N Broad St Meriden
    • Westbrook - saybrook >
      • Estuary No 43 Old Saybrook Ct
    • Branford Jobs
    • Clinton Jobs
    • madison jobs
    • Essex & Lymes >
      • Essex, Ct Project
    • Guilford Jobs >
      • William Faulkner House
      • John Hale House
  • WHY US
  • About Us
  • Link Page
  • About Us
  • About Us
  • Home
  • CURRENT SPECIALS
    • LINKS >
      • ABOUT US >
        • Send us Your Plans
        • CONTACT US >
          • Feedback Form
          • Testimonial Form
          • Employment Application
          • Website Survey
        • TESTIMONIALS
        • WORKMANSHIP WARRANTY
        • SERVICE AREAS
        • CHOOSING A CONTRACTOR
        • OUR BLOG
  • Vieques Contractor
  • SERVICES
    • ROOFING COMPANY
    • HERITAGE ROOFING CT
    • GENERAL CONTRACTING
    • REMODELING & ADDITIONS
    • WINDOWS
    • CHOOSING A WINDOW
    • SIDING
    • BATHROOM REMODELING
    • KITCHEN REMODELING
    • CUSTOM BUILT INS
    • CUSTOM KITCHEN CABINETS
    • DECKS
    • PAINTING
    • DOORS
    • ROOF & SIDING CLEANING
    • POOL HOUSES & PATIOS
    • GUTTER SERVICES
  • GALLERY
    • Residential
    • Commercial
  • CURRENT Projects
  • PAST PROJECTS
    • Hartford & Surrounding Areas >
      • WYLLYS SAINT JOHN'S LODGE No. 4
      • Meriden Arms Motel / 1899 N Broad St Meriden
    • Westbrook - saybrook >
      • Estuary No 43 Old Saybrook Ct
    • Branford Jobs
    • Clinton Jobs
    • madison jobs
    • Essex & Lymes >
      • Essex, Ct Project
    • Guilford Jobs >
      • William Faulkner House
      • John Hale House
  • WHY US
  • About Us
  • Link Page
  • About Us
  • About Us

HOUSE FLIPPING IS HOT NOW BUT IF YOUR NEW TO THE GAME YOU CAN LOSE A LOT OF MONEY

10/24/2016

14 Comments

 
Picture
Home flipping — buying and then selling a house or condo within 12 months — is on the rise and at a two-year high. 

According to a RealtyTrac analysis, 6.6% of all single-family and condo sales in the first quarter of 2016 were flips. That’s up 20% from the previous quarter and 3% year over year. And the number of flippers grew by 8% from the first quarter of 2015.
But a lot could go wrong if your new to the game. The pros at Heritage can guide you in your project and provide as much or as little project management and contracting services as you desire.

The biggest mistake most flippers make is not knowing all the hidden costs and the time involved which will ultimately delay the sale.

Managing multiple contractors not knowing how reliable they are or there timetable can be frustrating. Heritage can 
handle all phases from finding the deals out there to bringing the job to Fruition and making the profit you hoped for.


The TV shows make it look easy but anyone who has ever tried it knows its a lot harder than it seems.

Heritage can give you an accurate picture of the flipping opportunity. Only then can you determine whether it’s a sound financial move for you.
Picture
IRVINE, Calif. – Sept. 15, 2016 — ATTOM Data Solutions, the nation’s leading source for comprehensive housing data and the new parent company of RealtyTrac, today released its Q2 2016 U.S. Home Flipping Report, which shows a total of 51,434 U.S. single family home and condo sales were completed flips in the second quarter of 2016, up 14 percent from the previous quarter and up 3 percent from a year ago to the highest number of home flips since Q2 2010 — a six-year high.

Number of Investors Flipping Homes at Highest Level Since Q2 2007 — a Nine-Year High;

A total of 39,775 investors (including both individuals and institutions) completed at least one home flip in Q2 2016, the highest number of home flippers since Q2 2007 — a nine-year high.
Gross flipping profit increases to new all-time high Average days to flip at 10-year high

. 
The return on investment, or the gross profit on the sale, is strong. Homes flipped in the first quarter saw an average gross profit of $58,520, a 10-year high. In some markets, flippers saw gross profits of 80% or more of the price they paid for homes:
  • New Haven, Connecticut (104.8 percent)  (RealtyTrac)
  • Today flippers are seeing the best returns in Pittsburgh, New Orleans, Philadelphia, Cincinnati and New Haven, Connecticut. ( CNBC)



14 Comments
Jery link
1/15/2021 05:26:06 am

Goood reading

Reply
Evans Real Estate Agent link
3/24/2023 02:51:36 am

Keep posting such updated, nice blog. If you are looking for the best real estate, then you have to check out

Reply
Dryer Vent cleaning link
3/24/2023 02:52:49 am

Keep posting such updated, nice blog. If you are looking for the best Carpet Cleaning Company, then you have to check out

Reply
Highlands Ranch Glass Service link
3/24/2023 02:55:41 am

Keep posting such updated, nice blog. If you are looking for the best Window Replacement Company, then you have to check out

Reply
Fort Collins Tree Service link
3/24/2023 02:56:21 am

Keep posting such updated, nice blog. If you are looking for the best Tree Removal Company, then you have to check out

Reply
Longmont Solar Installation link
3/24/2023 02:57:02 am

Keep posting such updated, nice blog. If you are looking for the best Solar System Company, then you have to check out

Reply
Evans Real Estate Agent link
3/24/2023 02:57:48 am

Keep posting such updated, nice blog. If you are looking for the best Window Real Estate, then you have to check out

Reply
septic tank cleaning link
3/24/2023 05:59:12 am

Keep posting such updated, nice blog. If you are looking for the best septic tank, cleaning Company, then you have to check out

Reply
Norman Knights link
5/10/2023 05:55:09 am

Thank you for the helpful post on home improvement. I found your tips on decluttering and organizing to be especially useful.

I also appreciated your reminder to prioritize maintenance and repairs, including those for the roof. As someone who has had to deal with a leaky roof in the past, I know firsthand how important it is to keep up with regular inspections and repairs to prevent bigger problems down the line.


Best regards,
Norman knights

Reply
house rendering link
11/2/2023 07:29:56 pm

Even the 20% rule, according to some experts, understates the issue. According to Greeley, Colorado, real estate agent Mark Ferguson, who has been flipping properties for 15 years and is presently working on ten projects, "a rule of thumb many flippers use is 30% margin plus repairs." Put otherwise, the house needs to sell for 30% more than its initial cost plus the cost of any remodeling. Ferguson might purchase a house for $120,000, spend $25,000 on repairs, need to sell it for $200,000 to pay for other expenses, and still only make $30,000 after additional $25,000 in carrying, financing, and selling fees. To put that into context.

Reply
simal ali link
1/10/2024 06:24:41 am

I'm glad you found the home improvement post helpful! The tips on decluttering and organizing seem to be particularly useful for you.





Reply
Jenny Jenkins
5/7/2024 01:23:58 pm

I cannot tell you how helpful this article was. I love your writing style. I found some other great information on this website here too https://conservationconstruction.com/siding/acrylic-composite-siding-system/. Keep up the good work and i’ll check back to see your next articles.

Reply
AAF link
8/23/2024 08:38:10 am

I would never flip homes. The issues is that so many novices who watch the reality TV shows became speculators and helped depress the market because they did not know what they were doing. Fixing a home is 1/100th of the battle. You have to know the housing market, get financing, negotiate, and convince someone to sell. Most novices lose money on house flipping. I would invest in traditional real estate instead investing hundreds of thousands into house flipping.

Reply
Perth Solar Installers link
1/6/2025 09:00:31 pm

Great point! House flipping can be exciting, but it’s definitely important to do your research and understand the risks before jumping in.

Reply



Leave a Reply.

    Picture
    Recent Posts

    Archive

    March 2020
    March 2018
    February 2018
    January 2018
    December 2017
    September 2017
    May 2017
    March 2017
    January 2017
    December 2016
    October 2016
    July 2016
    June 2016
    April 2016
    February 2016
    October 2015
    May 2015
    March 2015
    February 2015

specials
About Us
services
gallery
past projects
current projects
or call us at ( 203 ) 605 7881