Foreclosure Strategies
May 10 2018
The best way to deal with a foreclosure is to take aggressive legal action when the foreclosure laws... [Read More...]
July 5, 2014 By
Why Are Homes Being Flipped in Nassau County, New York?
The reason for homes being flipped in Nassau County has to do with the fact that home prices are going up and there has been an increase in new foreclosure lawsuits. During the first quarter of 2014, there was a 4% rise in the number of foreclosure cases initiated by financial institutions in the courts in Nassau County. There has been a 6% year to year increase in the value of homes in Nassau County.
Pursuant to RealtyTrac approximately 2% of all the homes purchased in Nassau County have been purchased by speculators and flipped.
Conclusion
Speculators are very attuned to market trends. The fact that speculators have gone back into the marketplace in Nassau County to purchase homes indicates they believe real estate is appreciating at a significant level in Nassau County. Does this make it the right time for prospective purchasers to purchase a house in Nassau County? Yes, I believe purchasing a home in Nassau County is an excellent investment at this time.