The National Association of Realtors indicates home values are on the rise… with home prices up by 11.6%.
Sales prices are rising… as inventory drops.
Vacant lots that were listed for sale years back (then taken off the market during the housing crisis: 2006-2011) are now sporting “for sale” signs … and construction projects are springing up everywhere in South Florida (condo buildings/single family homes).
Flipping is back.
So … which are the best markets for flipping? According to RealtyTrac, the top markets are Orlando, Florida; Richmond, Virginia; Tucson, Arizona; and Charlotte, North Carolina.
It’s not just enough to scoop up a distress sale and flip it outright. The best return on investment comes from properties needing work (whether cosmetic or structural) … and what’s key is being able to pinpoint what needs upgrading, and then making money off the sweat equity.
Highest return on investment, according to Remodeling Magazine’s 2013 “Cost Vs. Value Report” comes from window replacement, minor kitchen remodels and fixing garage doors.
Minor bath remodels, paint and landscaping also tend to offer a solid return on investment.
Looking to buy or sell … or flip? We would love to work with you. Alexandra Hechtman and Vicki Restivo – EWM Realtors 305 632-0164 or 305 793-1365 restivo.v@ewm.com Call anytime or send us a note here
