Maybe the folks from ‘Flip or Flop Fort Worth’ are on to something.
According to a new report, released Thursday from ATTOM Data Solutions, one Fort Worth zip code in particular is tied for the fastest place to flip a house in the entire country.
The 76119 zip code, which is located southeast of downtown Fort Worth and also covers portions of Arlington and Forest Hill, is tied with a zip code in Memphis, Tennessee, for the fastest average time to flip a home – buy it, renovate it and sell it – at 93 days.
“That doesn’t surprise me at all,” said Realtor Stephanie Ziemann of Simply Smart Realty Group.
Ziemann told NBC DFW that investors and house flippers have recently seized upon the 76119 zip code because the price points are noticeably lower than in other areas of Tarrant County. That translates into bigger profits for the investors and still-affordable prices for people who are most likely first-time homebuyers.
“It is good that the investors have started moving out this way because there are more houses [available] and it gives more opportunity,” Ziemann said.
Ziemann has a listing at 2715 Timberline Drive in Fort Worth that was recently remodeled. The 1,800 square foot three bedroom, two bath house is listed for $158,000. If that house were picked up and dropped in many other areas of the Metroplex it might be listed for twice that amount.