Houses in Speculative Markets
Where Buyers Purchase to Flip

Speculative homebuyers who purchase new construction units with the hopes of flipping them a few months later are still active in some markets, just at a slower pace, reports Professional Builder magazine. Here are homes in such markets.

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Place/Price: Philadelphia / $364,900
Condo: The Residences at Dockside

The Property: 1 bedroom, 1 bath, 830 square feet

Description: Located on the southwest side of the building, this unit has sliding glass doors in the master bedroom that lead to a 75-square-foot terrace. A washer, a dryer and a parking space are included.
Notable: The 16-story building, which has an indoor swimming pool and 24-hour fitness center, transitioned from apartments to condos in 2006. Falling at number 15 on the list, Philly has about 10.3% of homebuyers as speculators, Professional Builder reported.

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Place/Price: Chicago / $435,000
Condo: Bucktown Place
The Property: 2 bedrooms, 2 baths, 1,400 square feet
Description: The unit has a granite foyer, coffered ceilings, crown molding and chair rails. There is a balcony and a roof deck. A garage space is included. The master suite has a walk-in closet and a steam shower.
Notable: This 12-unit building with elevator is 10 minutes to downtown by train. Chicago has a 6.9% speculative activity rate, according to the John Burns Real Estate Consulting rankings in Professional Builder. Las Vegas has 16%, Baltimore 12% and Atlanta 7.6%.

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Place/Price: Brooklyn, N.Y. / $445,000
Condo: Mill Harbor Waterview Residences

The Property: 2 bedrooms, 2.5 baths, 1,160 square feet
Description: This duplex condo in the Bergen Beach area has an eat-in kitchen with windows, a private balcony, solid oak flooring and optional washer and dryer. It is wired for high-speed Internet, phone and cable TV.
Notable: The residence is part of a nine-building garden-style community framing a 4,000-square-foot clubhouse with a fitness center and library. New York, with 4.7% speculative activity, is last on Professional Builder's Top 30 list. Phoenix topped the list with 17.1%.

Sources: probuilder.com, realestateconsulting.com, docksidecondominiums.com, bucktownplace.com, bergencommons.com

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