Where are the most profitable real estate markets for flipping houses in 2013?
Flipping houses continues to be a hot and profitable trend as we continue to emerge from the housing crisis. In fact, some parts of the country are witnessing exponential growth. San Diego, in particular, remains one of the most profitable real estate markets for flipping houses.
Even though things are getting better, there continues to be an immense amount of discounted property opportunities around the Unites States. Banks continue to forge ahead with foreclosures and tuck their obligations under repeated mortgage settlements, while at the same time, house prices blossom in the emerging housing boom.
However, while there are deals to be found in virtually every zip code in the country, people continue to wonder where the most profitable real estate markets are.
San Diego coverage of new data, provided by RealtyTrac, acknowledges the following U.S. cities as the most profitable real estate markets in 2013:
- Orlando, FL
- Las Vegas, NV
- Phoenix, AZ
- Tampa, FL
- Memphis, TN
- Miami, FL
- Lakeland, FL
- Nashville, TN
- Sarasota, FL
- Tucson, AZ
- San Diego, CA
According to the numbers from RealtyTrac, investors flipping houses in San Diego have been realizing an average gross profit of almost $88,000 per home. Those on the other side of the country in New England and New Haven, CT have certainly been experiencing similar results as well. These markets will see even more profit as new development boosts local property prices.
Remember that markets constantly change. Jumping on the next hot spot can be a functional strategy. However, many prefer choosing two or three staple markets that are operating at slightly different points in the housing cycle. Utilizing multiple markets allows them to really master their craft, and see the best net profits. Investment opportunities may increase for those who relocate to hot markets.
