Where the hot house flipping markets are

I haven't dealt with too many house flippers in my real estate business. When it comes to buyers I mainly deal with first time home buyers, like the married couple that has a couple of kids, or are planning on having kids, and they are just looking for a home for their family. Now I don't mean to say I have a problem with house flippers, it's just that there are not too many of them here in the Silicon Valley. That is largely due to the high median home price in this area and the fact there aren't too many fixer uppers here. And a new report from RealtyTrac supports my claim that Santa Clara County is not the most popular place for flippers.

House Flipping Data

A year after its Spring 2014 report showed the ten most profitable U.S. markets for flipping houses, RealtyTrac® turns the data tables to find where the practice made up the largest proportion of sales in 2014.

They are not the same: Only the highest-ranking city this year is within a Metropolitan Statistical Region (MSR) on last year’s list.

Flipping a house is real estate jargon for buying, improving and then reselling a property within six months. Inkster, Michigan tops this year’s list with flipped houses accounting for 27 percent of its total 2014 home sales. The Detroit suburb showed up last year within the ninth-ranked Detroit-Warren-Livonia MSR.

The second ranked city on this year’s list is Opa Locka, Florida, with more than 21 percent. Though its surrounding Miami-Dade County was not included last year, three that did are right up the Atlantic coast.

The other eight cities on this year’s list, below, are all in Michigan, Georgia and California.

Source: RealtyTrac

http://www.realtytrac.com/news/data-lab/house-flipping-data/