In This Issue:
- Flipping Houses Declines 17%
- Monthly 1st Tuesdays Sheriffs Tax Sale Auction News.
- Mobile Home Park Project Update. Time for plan “B”
- Economic Changes Coming in 2019.
Flipping Declines 17% Nation-Wide.
Flipping margins decline: Flipping houses declines 17% nationally, 22% in California. Biggest declines in areas with historically higher prices. Profits on flips get squeezed be longer hold times and higher labor and material cost as well as acquisition cost are higher.
I noticed that wholesale companies and flippers with employees on staff are paying more to acquire houses to keep the deals coming in. The resulting profit margin squeeze, combined with a slowdown in home appreciation rates, cause by higher mortgage interest rates, should make flippers be extra vigilant moving forward.
News from The Monthly Tax-Auction
I skipped the tax auction again, I will be back for the December 4th tax sale. The December sale has a lot of struck-off property’s that did not sell at prior auction. There are a lot of vacant lots in this up coming
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