House flipping used to be a somewhat risky move usually done occasionally by experienced real estate professionals.
Not anymore. The practice of buying a house, fixing it up and then reselling it only a few months later is more and more common in today's real estate market.
It's reportedly happening at the quickest pace in decades in parts of California. In Southern California, the online real estate analysis site DataQuick reports house flipping is up 45 percent from the same time a year ago.
The market is prime for flipping, experts say. Housing demand is still high and prices are still rising.
In Dublin, we found a home that was sold twice within six months last year.
The four-bedroom, two-bathroom house at 8301 Davona Drive was sold in June 2012 for $343,000. This listing said the home "needed some TLC."
In December, the home was resold for $485,000 after receiving an upgraded kitchen and bathroom as well as new interior paint and new carpet.
Do you know of other homes that were quickly resold in your neighborhood? Let us know in the comments section.
This information was provided by Rachael Hand, Broker Associate, Coldwell Banker, 925-372-8080 or rachael.hand@cbnorcal.com. Properties featured in this article may be offered by a variety of local real estate firms.
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