Seattle house flipping market becoming saturated

KING 5

The red-hot housing market is sparking more interest in flipping properties to make money. But people who are already in the flipping business say the market is becoming saturated.

Despite a slight downturn, around 17% of all home sales in the Seattle metro market are still flipped houses, with the seller turning a profit of around $107,000 according to RealtyTrac.

Ann and Scott Carson, who founded Flippingseattle.com, started with a simple remodel of their own in 2002, then realized it was a fun way to make a profit by buying low and selling high after a quick renovation.

"We had a nice profit margin and thought there's got to be something more to this," Ann said. "It takes patience because the market is so saturated with investors now."

The Carsons sometimes have up to 30 properties at once. They are now buying properties in Skagit and Whatcom Counties to continue the business since there so much interest in house flipping throughout King County.

"You have to get creative these days," Scott said.

© 2017 KING-TV


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