Just read an article from 247WallSt that said Philadelphia is the 7th best city nationally for flipping homes.
Here’s the link: http://247wallst.com/2012/10/09/the-best-cities-to-flip-a-house/
Here’s the data:
Avg. gross profit: $69,212
Homes flipped through mid-2012: 819
Avg. home price: $213,156 (92nd highest)
Avg. days to flip: 110
It is small wonder that with high resale prices, coupled by an ample supply of bank-owned properties, the home-flipping business is picking up steam in the greater Philadelphia market. There were 15,256 foreclosure filings in Philadelphia during the first half of 2012, up almost 30% from the second half of 2011. Sales of foreclosed properties followed, rising almost 25% from the second half of 2011.”
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Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog
Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
CenterCityTeam.com: Philadelphia Real Estate
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Frank L. DeFazio, Esq.
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