Property flipping regains traction in Chicago area

October 04, 2012|Mary Ellen Podmolik | The Home Front

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Mike Baird and Doug Clark, who have been flipping homes together for seven years, advise newcomers to the business to research an area thoroughly before buying properties. (Spike TV, Handout)

Property flipping is gaining speed again in the Chicago area.

During the first six months of the year, 1,067 homes were flipped in the seven-county Chicago area, a 30 percent increase from 2011’s first half, according to RealtyTrac, a real estate data provider.

That’s still way down from 2010, and as prices start to move off the bottom, some would-be investors may decide they’ve missed their opportunity. However, home prices remain at levels not seen since the early 2000s, which means there are still ample opportunities for investors.