BUSINESS
06/01/2010 05:12 am ET Updated May 25, 2011

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

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:

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BEFORE YOU GO
Property Flipping Hot Spots
PHOTO GALLERY
Property Flipping Hot Spots