RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Ranking the Most Profitable Markets for Flips

August 15, 2016 12:09 am


Flipping houses is once again a viable avenue for investors, with last year seeing the most flippers in the market since before the recession. Investors in flipped houses currently average $55,000 in gross profit.

Some markets, however, offer returns that exceed the average—and then some. Personal finance website WalletHub.com recently ranked the most profitable markets for flips, where factors like median purchase price and remodeling costs lead to lucrative outcomes.

Pittsburgh, according to WalletHub’s ranking, posts the highest average gross return on flips at 129.5 percent—six times higher than Austin, Texas, which has the lowest average gross return at 21.2 percent.

Per the ranking, San Jose, Calif. has the highest median purchase price for flips at $580,000; Cleveland has the lowest at $45,000.

The lowest remodeling costs for flips are in Little Rock, Ark., averaging $75,888, according to WalletHub’s ranking. The highest remodeling costs are in Boston, at an average $377,598.

Weighing all factors, the top 20 in the ranking are:

1. Sioux Falls, S.D.
2. Fort Wayne, Ind.
3. El Paso, Texas
4. Oklahoma City, Okla.
5. Lincoln, Neb.
6. Lubbock, Texas
7. Tampa, Fla.
8. New Orleans, La.
9. Boise, Idaho
10. Laredo, Texas
11. Tulsa, Okla.
12. Corpus Christi, Texas
13. Nashville, Tenn.
14. Peoria, Ariz.
15. Cape Coral, Fla.
16. Gilbert, Ariz.
17. Des Moines, Iowa
18. Pembroke Pines, Fla.
19. Springfield, Mo.
20. Grand Rapids, Mich.

Source: WalletHub.com
 

Published with permission from RISMedia.


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The 10 Priciest Vacation Areas

August 12, 2016 12:03 am


Travel costs are high come peak season, but in some vacation areas, they exceed those of even the most expensive international destinations.

According to a recent CheapHotels.org survey, the priciest accommodations, at the basic cost level, are in:

• Saratoga Springs, N.Y. ($332 per night)
• Nantucket, Mass. ($329 per night)
• Montauk, N.Y. ($326 per night)
• Santa Monica, Calif. ($271 per night)
• Portland, Maine ($267 per night)

The Northeast markedly contains the majority of the most costly vacation accommodations, with visitors to Saratoga Springs spending an average $332 per night for the least expensive double room.

Cape May, N.J. ($246), Newport, R.I. ($234), Provincetown, Mass. ($232), Calistoga, Calif. ($227) and Beverly Hills, Calif. ($221) round out the top 10 vacation areas with the priciest accommodations, according to the survey.

Source: CheapHotels.org
 

Published with permission from RISMedia.


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