images

Riley McDermid                                                                                 Digital Producer                                                                                             San Francisco Business Times

The Bay Area is the most profitable place to buy a house, renovate it and then resell it quickly, making it the best region in the U.S. to “flip” a house, real estate tracking firm RealtyTrac said this week.

RealtyTrac analyzed sales deed data and automated valuation data and included any single-family home or condo flip from the second quarter, where a previous sale on the same property had occurred within the last 12 months.

It found that the markets most likely to make the highest profits were in the Bay Area, in Silicon Valley and in San Francisco/East Bay.

You can see the full ranking with locales and average gross flipping profits below, and the report here.

  • San Jose-Sunnyvale-Santa Clara — $145,000
  • San Francisco-Oakland-Hayward — $145,000
  • New York-Newark-Jersey City (New York, New Jersey, Pennsylvania) — $120,000
  • Los Angeles-Long Beach-Anaheim — $115,000
  • Oxnard-Thousand Oaks-Ventura — $110,000
  • San Diego-Carlsbad — $102,500
  • Seattle-Tacoma-Bellevue (Washington) — $99,000
  • Urban Honolulu (Hawaii) — $96,346
  • Washington-Arlington-Alexandria, (District Columbia, Virginia, Maryland, West Virginia) — $96,000
  • Baltimore-Columbia-Towson (Maryland) — $91,542
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s