House Flipping In St Louis Up 68 Percent From Year Ago

St Louis Realtor - Dennis Norman - Past President, St Louis Association of REALTORSHouse flipping in St Louis is on the rise according to the 3rd quarter house flipping report just released this morning by RealtyTrac, the foreclosure tracking gurus.  What is “house flipping”?  Well, back when I entered the real estate business (1979) and began buying and selling homes, a “flip” was referred to as a house we sold and would close the our purchase, as well as our resale, on the same day.  Today, “flipping” is applied to a home that is bought and then resold within a short period, for the purposes of the RealtyTrac report, 6 months.

The RealtyTrac report shows, during the 3rd quarter, there were 346 houses flipped in the St. Louis metro area, a slight decrease (10%) from the prior quarter, but a 68% increase from a year ago.  The average price paid for a St Louis flip was $124,102 and the average price it was resold at was $142,370.  The table below shows complete data for the metro area as well as for St Louis City & County and St Charles county.

Interested in Flipping Property?
Buying Foreclosures is a good place to start.
Search St Louis Foreclosures HERE

For Advice on How to Buy St Louis Foreclosures From A 2000+ Home Buyer Investor click here. (would you consider a “LIKE” in exchange?)

St Louis House Flipping Report - 3rd Quarter 2013

Copyright 2013 - St Louis Real Estate News - Data source: RealtyTrac

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