This comment was left at the cnbc site about high-end flipping – I’m seeing the same thing around San Diego:
Article is behind, this is already slowing down here in Orange County – a lot of the properties are starting to sit on the market for awhile.
Thanks to daytrip for sending this in:
Markets with the best return on flips in the second quarter included Pittsburgh (106 percent), New Orleans (76 percent), Baltimore (73 percent), Virginia Beach, Virginia, (66 percent) and Daytona Beach, Florida (63 percent). Metro areas with the highest dollar amount of average gross profit on home flips included San Jose, California, Washington, D.C., San Diego, Los Angeles and Seattle, all of which had an average gross profit of more than $100,000 per flip, according to RealtyTrac.