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8 Best Markets for Flipping Houses

More investors are rehabilitating homes and looking to sell them for profit, a move known as flipping. RealtyTrac recently evaluated more than 600 metro areas to find where flipping single-family homes offers some of the highest returns based on the investor’s gross profit. The top eight metros for house-flipping are:

Orlando
Average purchase price: $103,701
Average flipped price: $168,677
Gross profit percent: 63 percent

Las Vegas
Average purchase price: $133,198
Average flipped price: $203,945
Gross profit percent: 53 percent

Phoenix
Average purchase price: $146,528
Average flipped price: $210,290
Gross profit percent: 44 percent

Tampa, Fla.
Average purchase price: $79,538
Average flipped price: $113,676
Gross profit percent: 43 percent

Memphis, Tenn.
Average purchase price: $68,318
Average flipped price: $96,870
Gross profit percent: 42 percent

Miami
Average purchase price: $138,064
Average flipped price: $189,291
Gross profit percent: 37 percent

Lakeland, Fla.
Average purchase price: $68,444
Average flipped price: $93,715
Gross profit percent: 37 percent

Nashville, Tenn.
Average purchase price: $108,851
Average flipped price: $146,872
Gross profit percent: 35 percent

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Phoenix Multifamily Market Continues to be ‘Bright Spot’

The Phoenix multifamily and condo market showed big improvements in the first quarter, the National Association of Home Builders reports. NAHB’s latest Multifamily Production Index, which measures builder and developer sentiment over the multifamily markets, reached its highest reading since the third quarter of 2005.

This marks the seventh-consecutive quarter the index has posted gains.

“In spite of continuing difficulties in the capital markets, it appears that new construction is underway,” says W. Dean Henry, chairman of NAHB’s Multifamily Leadership Board. “This is certain to help satisfy some of the pent-up demand that has occurred over the past several years.”

Vacancies in multifamily housing remains at low levels, according to the index.

“Multifamily construction continues to be a bright spot in the overall housing market,” says David Crowe, NAHB’s chief economist. “However, as indicated by the [index], demand for apartments is now quite high, and production is still very low in a historic context and in the context of what we project is necessary to meet long-term demand.”

Apartment buildings for sale in Phoenix are selling right and left. The time to find a good deal and buyer is now. Thousands of people that lost their homes to foreclosure are now creating a hugh demand for Phoenix income property.

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