House flipping makes a comeback ... in the most surprising places

By
Services for Real Estate Pros with USHUD.com

House flipping, the selling of property within six months of purchase by investors, was once discouraged by the government. But these days, the activity is more than welcome as investors fixing up and quickly selling at a profit is helping to reenergize some of the hardest hit housing markets. The Federal Housing Administration implemented a one-year waiver of anti-flipping rules effective Feb. 1, so borrowers can now get FHA financing to acquire homes from investors who have held title for less than 90 days.

So where is flipping making a comeback? In some of the most depressed markets in the nation. Here's a list of the top five locations with the percentage increase of "flipped" properties as reported by BusinessWeek

Sacramento, Calif. +12%

Las Vegas, Nev. +38%

Riverside and San Bernadino Counties, Calif. +45%

Phoenix, Ariz. +81%

Lee County, Fla +167%

For the latest real estate foreclosure news and information, visit www.ushud.com, America's only free foreclosure resource.

 

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Re-Blogged 5 times:

Re-Blogged By Re-Blogged At
  1. Timothy Fry 04/03/2010 08:27 PM
  2. David Fabian 04/04/2010 01:19 PM
  3. Kristin Frankenfield 04/22/2010 06:33 PM
  4. Margaret Chialastri 04/23/2010 08:59 PM
  5. Jim Buffington 04/28/2010 10:06 AM
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