House Flipping in the Tampa Bay area and Florida on the rise
The Tampa Bay (FL) Times (9/21, Harwell) reports, "Half a decade after frenzied house flipping inflated home prices and hastened the crash, buying and quickly reselling homes continues to pull in big profits in Tampa Bay. Nearly 2,000 homes were flipped between January and June, twice as many as were flipped during the first half of 2010, according to a new RealtyTrac report released Wednesday." Data indicate flippers retain the properties for about three months, and made about $25,000 in profit from each sale.
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