Coronavirus’ effects on the real estate market in 2020 for house flippers are undeniable. In some markets it’s been a blood bath… In others, it hasn’t.
In my market (and others) we are seeing an increase in price per sqft sales prices as well as a decrease in the days on market. For people flipping houses in 2020 this is great news.
We are having no problems selling move-in ready vinyl village assets quickly on the market.
We dive into Domus analytics in our market as well as how to find this data from Zillow for free.
We are closely watching how the foreclosure forbearances pan out. We really won’t know the full impact of COVID on the house flipping market for another 60-90 days.
In the meantime, we are focusing on low cost/fast turn flips. I recommend looking for conventional buyers with larger down payments. I am personally NOT getting into larger renovations on anything I’m not keeping at this time.
Are you seeing this in your flipping houses market?