Successfully flipping houses depends in no small part on the location of the property. Although the housing industry is still in a slump, a few markets around the country have turned into hotspots for real estate investors, retirees and young families. If you want to make some real money selling a house this year, you should definitely look into one of these laudable locales.
- Rochester, New York. Rochester was hit hard when camera manufacturer Kodak started to fail, but since then, it’s been on a steady road to recovery. It’s a haven for manufacturing plants, and the education levels and average annual income in Rochester are much higher than the national average – which is why selling a house there will net you much more than than the national average as well.
- Pittsburgh, Pennsylvania. Named this year’s “In” city by the Washington Post, Pittsburgh is sure to experience a renaissance in home sales as the wealthy and the hip scramble to get their hands on real estate in the Three Rivers area. The Steel City’s beautiful landscape, burgeoning art scene and excellent hiking trails have been a well-kept secret for years, but now that the news is out, expect property values to rise quickly.
- San Diego, California. Southern California living never really goes out of style, and in the current economy, more people are flocking to San Diego’s beaches than ever before. Pacific Beach and Ocean Beach are some of the hottest communities in the country right now. If you can score a seaside foreclosure in one of these neighborhoods, you can make a mint rehabbing it and putting it back on the market.
“Smart” cities with high-tech industry bases are all the rage in real estate this year. If you haven’t started flipping houses in any of these hotspots yet, then you better get moving before someone beats you to the punch.
