Real Estate Headlines: Flipping Homes, Low Appraisals, and More
Ready to invest in a home? We talk through some real estate trends when it comes to flips, low appraisals, building materials, and co-buying on today’s episode.
Let’s talk about some national trends and see if Angie has noticed them happening in the Triangle real estate market as well.
Among the top five places in the nation to flip a home are: Columbia, SC; Phoenix, AZ; Dallas, TX; Columbus, OH; and right here in Raleigh, NC. What are Angie’s thoughts on flipping a home in this market? She constantly gets calls from investors about properties, but it’s worth noting that there are limited foreclosures on the market. So, don’t expect to get a home at a steal of a deal these days.
Across the country, low appraisals coming back are frequently stalling home sales. Angie has not seen that often in this area however with so many competitive offers. Buyers are expecting to pay the difference more commonly here so a low appraisal is not causing as many home sales to fall through.
With a shortage of building supplies, some buyers are seeking alternative materials. The problem is, some of these materials are more expensive. Delays and higher pricing are happening, but that seems to be an issue nationwide.
Finally, co-buying has been on the rise. This means two people with different last names buying a home. Co-buyers make up about 14 percent of the total buying market. Angie has noticed this happening among investors looking for properties and shares a few other examples of why people may co-buy.
Listen to the entire episode or skip ahead using the timestamps below.
0:38 - Where are the five best places to flip a house?
3:25 - Low appraisals are causing problems for home sales.
4:57 - Builders are seeking alternative materials.
6:49 - Co-buying has sky rocketed.
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