The Real Deal Miami

Study finds Broward beats Dade for house flipping

Report on house flipping in U.S. markets ranks Pembroke Pines 18th best, Lauderdale 45th
August 06, 2016 01:30PM

WalletHub: A flipped home is one that sells twice in a year.

WalletHub: A flipped home is one that sells twice in a year.

House flippers find better opportunities in Broward County than in Miami-Dade County, according to a report by the personal finance website WalletHub.

The WalletHub report ranked Pembroke Pines as the 18th best U.S. market for flipping houses and Fort Lauderdale as 45th best. Hialeah ranked 79th and Miami 82nd.

The personal finance website operator classifies a house as flipped if it sells twice within 12 months.

WalletHub’s analysis of U.S. markets for flipping potential is based on factors including house prices, typical remodeling costs and housing market stability.

A decade ago, flippers rapidly resold homes within weeks of buying them, a trend that contributed to the housing market bust that began in the late 2000s.

But analysts say house flippers now flip at a slower pace and have contributed to the housing market recovery by spending time and money to renovate houses and upgrade whole neighborhoods.

Danielle DiLenge, an agent with Better Homes & Gardens Real Estate Florida 1st, told the Sun-Sentinel Pembroke Pines is a popular market for flippers and owner-occupants alike.

DiLenge told the newspaper, “I’ve had a lot of first-time home buyers focus out in Pembroke Pines.” [Sun-Sentinel] — Mike Seemuth