Discover and read the best of Twitter Threads about #EastBayArea
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1 in 4 flippers sold their homes for LESS $$$ than expected in our 4Q22 survey. Elevated rates and falling home prices are scaring buyers wary of buying on the way down, but investors are clearly looking to acquire now and refinance later. 🧵Flipper comments to follow ->
#Austin flipper: “Austin has an overinflated housing market that is compounded by elevated interest rates. This has resulted in a downward spiral in qualified buyers. The fix and flip market is pretty much gone. Prices in most areas are down about -30% or more in recent months.”
#Baltimore flipper: “We’re looking forward to a big 2023. I hate to say it, but a lot of it’s going to be on the backs of consumers with hardships, or circumstances where they have no other options. But that’s our bread and butter.”
We @JBREC just surveyed 400+ flippers about #fixandflip conditions in partnership with Flatiron Realty Capital and @SundaeHQ.
Key takeaway: There is a TON of competition for deals right now.
MARKET COMMENTARY THREAD 🧵 ->
Key takeaway: There is a TON of competition for deals right now.
MARKET COMMENTARY THREAD 🧵 ->
#LasVegas flipper: “Market is oversaturated with inexperienced investors due to an increase of “gurus.” Supply is low, demand is high, and prices are inflated 20%+ over ARV. Not sustainable.”
#Phoenix flipper: “Phoenix is a very active market with home prices on the rise. The competition is aggressive.”
