Huffpost Business

5 Areas Where 'House Flipping' Is Booming Once Again (PHOTOS)

Posted: Updated:
Print

At least one of the risky money-making schemes from the pre-crisis era has resumed in full force.

As Bloomberg noted yesterday, house flipping -- the rapid buying and selling of a home, often after it has been foreclosed on -- is back.

In 2009, the number of flipped homes rose to 197,784 nationwide -- a 19 percent increase over the year before. But according to RealtyTrac, a company that tracks foreclosure rates across the country and provided HuffPost with this data, the practice of flipping foreclosed homes (i.e., reselling a property within six months of foreclosure) is trending significantly in some of the centers of the real estate crisis. In Las Vegas, for example, where the housing market has been particularly hard-hit, the number of flipped foreclosures jumped from 5,846 to 8,042 in 2009 -- a 38 percent increase.

Check out RealtyTrac's list of the markets that are experiencing a particular boom in foreclosure flipping:

Close
Property Flipping Hot Spots
of
Share
Tweet
Advertisement
Share this
close
Current Slide

Suggest a correction

Around the Web

Tips for Flips – Buying and Selling Housing Foreclosures

How to Flip Foreclosed Homes

Pre-Foreclosure - A Winning Property Flip For You and the Current ...

Return of the House Flippers

Pace of house flipping picks up