Recently, there has been a surge in high-end and luxury property flipping nationwide.

Beginning in 2011, flips of homes valued at $1 million or more have risen nearly 40% across the U.S., according to RealtyTrac. 

Between 2011 and 2012, high-end flipping soared 456 percent in Phoenix (150 properties from 27); 867 percent in Orlando (29 homes from 3); and to 73 properties from 10 in Las Vegas.