Well, house flipping is back and bigger than ever. No more amateurs on the scene like before, today it’s professional investors grabbing up all the houses and properties and driving up prices.
Redfin has reported that Los Angeles had the highest number of flips in 2013 and 2014, so far. The houses being flipped arn’t just little shacks in run down neighborhoods either. The new breed of flipper have started moving into the higher end market and it seems to be paying off with big gains. The average flip in 2013 made $126,100; thats the sixth highest market in the U.S. following the Bay Area cities, Long Island and Boston.
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The post If Flipping is a Sign of a Hot Market, LA is Hot! appeared first on John Crow Real Estate.
from homes http://www.sobayre.com/flipping-sign-hot-market-la-hot/
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