Flipping (purchasing a distressed home, fixing it up and reselling it) has
declined in the Phoenix area by 35%. This is because we have fewer distressed
homes available in our market and our real estate prices are rising. This
decline in flipping is a postive sign that our housing market is recovering.
We are, however, seeing flipping increases in other areas of the country.
While Nevada and California are also seeing a decline in flipping, areas like
Dayton Beach Florida, Palm Coast, Florida and Omaha, Nebraska are seeing a huge
upswing in the number of flips. In some areas of Florida, they are reporting a
whopping 85% return on their investment!
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