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

By
Real Estate Services 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-Bloggged 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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Additional Information

Michael Urbanski is the chief executive officer of Heavy Hammer, Inc., and USHUD.com. Headquartered in Annapolis, Michael oversees the online networking and consulting company advocating for American homebuyers, connecting them with trusted experts and valuable resources. Driving one of the most widely used suites of foreclosure Websites, Heavy Hammer delivers all-inclusive, free lists of foreclosure properties to more than 500,000 homebuyers monthly. In business since 1998, Heavy Hammer has focused on geographically-based ad serving technology and processes allowing thousands of professionals to target specific locations, connecting directly with consumers in specific locations. Starting with USHUD.com, this group of sites now includes more than 30 state- and region-specific sites.