November 14, 2024 9:28 pm
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Home-flipping is hot in Phoenix area, but profits from reselling are not

Mortgage rates

KTAR

The Valley is one of the country’s top areas for home-flipping in terms of quantity, but it lags in terms of quality, according to a new report.

In the first quarter of 2018, 10.3 percent of homes sold in the Phoenix area were flips — properties that had been purchased to be resold for a profit.

That ranked No. 6 among 136 metro areas tracked in a report released Thursday by ATTOM Data Solutions. The national average was 6.9 percent, with Memphis, Tennessee, leading the way at 15.1 percent.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.