Flipping Rate Falls, But Profits Soar

Home flipping rates are falling as profit margins soar, according to new data from ATTOM. Flipped homes accounted for 8.9% of all U.S. home sales in Q2 2023, down 1% from the prior quarter and nearly the lowest rate since 2021. In total, 84,350 single-family homes and condominiums were flipped in the second quarter. At the same time, raw flipping profits increased 18% from Q1, the largest spike in the past decade. Typical profits also increased at the fastest quarterly pace in three years. The profit upswing comes on the heels of an “extended slump” that cut profits in half in the last two years. Though they remain far below 2021’s peaks, last quarter’s profits represent a rebound for home…

Alex Urmersbach Joins Kiavi As CFO

Investors’ lender Kiavi has named Alex Urmersbach as Chief Financial Officer, the company announced. In this position, Urmersbach will head the company’s finance, accounting, capital markets, and business operations divisions. “I couldn’t be more excited to join Kiavi, especially as the company continues to demonstrate impressive growth and differentiation in this challenging macroeconomic environment,” he said. “I look forward to working with the Kiavi team to build on its already strong foundation, and am deeply committed to the organization’s mission of providing real estate investors with the capital they need to scale their businesses and revitalize aged homes across the country.” Kiavi is a private lender focusing on residential real estate investors, with more than $13 billion in funded loans.…

Morning Roundup (3/31/2022)– Boom Or Bust?

Good Morning! Today is Thursday, March 31. The US is planning to lift an order that has restricted immigration for the past two years. Officials say Vladimir Putin’s subordinates have misled him about the Russian military’s struggles to avoid angering him. Google’s sister company Waymo is sending fully autonomous vehicles onto the streets of San Francisco. The Mortgage Note Reports Will The Housing Market Boom Or Bust? As the spring selling season begins, people in the mortgage and real estate industries are speculating on whether 2022 will be a year of growth or the start of the end for a red-hot market. Editor Kimberley Haas takes a deep dive into this topic. Flip Profits: Home flipping profits fell across the…

Home Flip Profits Declined In 2021 Despite Surge In Numbers

Home flipping profits fell across the country in 2021 despite a surge in the number of houses flipped, according to ATTOM Data Solution’s 2021 U.S. Home Flipping Report. The number of single-family homes and condos flipped in 2021 was 323,465, up from 257,091 in 2020 (+26%). This is the largest number of flips since nearly 334,000 homes were flipped by investors in 2006. In Q4 2021, there were 96,773 homes flipped, a rate of 6.8%. But flips accounted for only 5.5% of all home sales last year, falling in 53% of the markets analyzed by ATTOM. They are down from 5.5% in 2020 and 6.1% in 2019. The Northeast and West saw the biggest declines in number of homes flipped.…