FLIPPING FANTASTIC

Why this market favors home-flippers

December 22, 2023

Edition #14

WELCOME

This weekend, as we trade contracts for Christmas wrapping and open houses for full ones, we wish you and yours a safe, happy, and healthy holiday.

Before you fully immerse yourself in the festivities, here's one last valuable piece of advice from the most recognized voice in real estate, Glennda Baker, sharing insights about Homes.com.

Once the eggnog wears off, keep an eye on your inbox. We’ll be dropping in next Friday with a round-up of the top stories and content that shaped the industry this year, plus a few resources worth bookmarking for the Q1 real estate boom to come. 

Until then, enjoy your festivities!

SHARPEN YOUR SKILLS

 🔊Today’s Top Podcast Rec:

Creating high-performing content takes more than following trends and copying others’ success. It requires a sharp eye, a persistent focus, and a passion for showing up authentically—over and over. In this episode of The Standouts, host Aaron Grushow talks with Troy Osterberg, a fellow content creator who doesn’t let his massive online following get in the way of his genuine personality.

MARKETS

Why this market is flipping fantastic

According to a recent ATTOM report, home flippers pulled off a significant rebound in Q3—despite high interest rates, slowing price growth, and some buyer hesitancy. Whether it’s a passing break, or a new market trend, a full 53% of real estate investors expect 2024 to be an even bigger and better year for flips. 

By the numbers:

  • Home-flipping profits rose to a not-so-shabby $70,000 on average, up from $66,500 in Q2.

  • Profit margins increased from 29% to 29.8%, which is a major improvement from the average 22.4% margin seen in Q4 of 2022. 

  • 7.2% of all home sales in Q3 were flips.

REC ROUNDUP

The Friday Five

📖 Conforming loan limits. Glennda’s best advice for using new rules as a lead gen opportunity. 

👀 Blind reaction. Aaron Grushow reacts to this stunning $45M Holmby Hills estate.

👀 Real talk. Why Selling Sunset only shows half the story. 

💡Real Estate Report. Scott breaks down the latest homes and headlines shaking up the market.

💡First place. Why it pays to be the first agent in the ring.

WHAT’S NEW FROM ESTATE MEDIA

Burr is back

Turns out, real estate and comedy aren’t that different. As Josh Flagg and comedian Bill Burr came to realize over lunch, both careers require sharp people skills, quick thinking, and thick skin, no matter who you’re working with. 

For a candid, comedic, and at times unexpected conversation on real estate, career growth, and finding true love, watch Josh and Bill’s lunch date now.

Vista d'Oro Sanctuary

From its breathtaking 180-degree ocean views and private wellness retreat, to its smart-home technology and luxurious resort-style suites, today’s featured listing is the epitome of rejuvenating relaxation. Tap to explore this property’s modern architecture, indoor-outdoor spaces, and fully lighted soccer field.

estate-elegance.beehiiv.com/p/vista-doro-sanctuary

ESTATE MEDIA NEWSLETTERS

Our full lineup of real estate reads:

The Glennda Gazette. Real estate, real life, in real time. 

WAS the Newsletter Explore interior design advice and inspiration.

Zillowtastrophes. Unique, weird, and wild real estate.

Estate Elegance. Your daily dive into luxury real estate. 

Before we go…

📣 WANT TO REACH 100K+ REAL ESTATE PROFESSIONALS RIGHT IN THEIR INBOX?

Promote your brand with Estate Weekly and get noticed by the leading professionals in the real estate industry. Our subscribers include high-income decision-makers, investors, and key players in the real estate sector. For more information, please email [email protected].

CONSUMER SURVEY

Thank you for participating in our survey! Your insights and contributions are invaluable to our ongoing efforts to enhance the real estate industry.