Life on the Flip Side

New Western Announces Entrance into Virginia Beach Real Estate Market

Retrieved on: 
Wednesday, February 8, 2023
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VIRGINIA BEACH, Va., Feb. 8, 2023 /PRNewswire/ -- New Western, the largest national private source of fix-and-flip residential investment properties, announced today the opening of its first Virginia office and 52nd local market, in Virginia Beach.

Key Points: 
  • VIRGINIA BEACH, Va., Feb. 8, 2023 /PRNewswire/ -- New Western , the largest national private source of fix-and-flip residential investment properties, announced today the opening of its first Virginia office and 52nd local market, in Virginia Beach.
  • "Virginia Beach is an exciting market for us to enter as it begins to turn to favor rentals over buying," said Kurt Carlton, co-founder and president of New Western.
  • Thanks to its diverse population, proximity to a U.S. military base and beautiful beach, Virginia Beach has a fairly competitive market.
  • In January, New Western shared insights on the residential real estate investment market in a report called, The Flip Side .

New Western Survey Finds Most Investors are Confident in Residential Real Estate Market Despite Challenges

Retrieved on: 
Tuesday, January 10, 2023
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DALLAS, Jan. 10, 2023 /PRNewswire/ -- New Western, the largest national private marketplace for fix-and-flip residential investment properties, today released a report on the state of real estate investment in the United States. The analysis, which offers insight based on both New Western sales data as well as opinion polling from its network of 150,000 buyers, found that investors maintained confidence throughout 2022 and into 2023 even though housing inventory remains low and interest rates continue to rise.

Key Points: 
  • Additionally, the survey revealed a growing youth movement in residential real estate investment.
  • In fact, 7% of investors who have purchased investment properties previously are 18-29 years old, as are 15% of investors looking to purchase for the first time in 2023.
  • And 86% of Gen Z respondents said they are ready to enter the market once mortgage rates show signs of stabilization.
  • It consists of 886 real estate investors ages 18 and up from around the United States who have previously purchased property through New Western or plan to in the future.