House Flipping Market Drying Up?

[Jim Luby]

Many of you have had a very good run buying distressed properties, homes in need of repair, and successfully rehabbed and resold them to make a profit. I believe with the recent real estate crash, we have experienced an unprecedented opportunity to "buy low" as the market bottomed, and maximize profits as the market began to turn.

Today, market conditions continue to improve. The number of foreclosures nationally continues to decline. Financing has gradually become easier (compared to 2008/2009). Home prices are increasing.

So my questions for the BP Community....

Is the home flip market drying up? Is this renovate and resell strategy a viable, long term, sustainable method to generate good returns?

I understand there will always be good deals, given ANY market conditions. A persistent and creative buyer who is willing to do the leg work should always be able to uncover good leads.

I guess I'm looking for opinions from the home flip veterans out there, and any anecdotal evidence you might share from your respective markets.

Thanks in advance for reading!

[Travis Daggett]

@Jim Luby -

You're correct re: stats on a National level.

However, real estate investing is local. For example, foreclosures in Oregon are up 137% over last year. At the beginning of the year in lane county,there was one property sold per month at the sheriff's sale. Now, there are 8-9 per week.

As a result, I'm acting on this opportunity. How long will it last at this level? I don't know. Foreclosures will always occur, but no one can predict the volume over time.