A home’s market value is the price that you can expect to sell a particular home for in the current market conditions. Home values are currently down significantly from their high points in 2006 and 2007, but most housing markets across the United States have passed their bottoming out points and are beginning to resurge. If you’re looking to enter the house flipping market during this ideal window, knowing the market value of your property will be essential to determining whether or not your investment will be worthwhile.
A home’s market value is determined by the location of the property, the size of the property, and the state of repair that the property is in. The key to successful house flipping is finding homes that are either listed for less than their actual market value, which frequently happens during short sales, or listed for less than their potential market value.
Some house flippers focus on purchasing houses that need to be sold quickly and are therefore available at an excellent rate. These house flippers then turn around and sell the home again for its actual value, turning a quick profit without making many or sometimes any renovations. Other house flippers look for properties that have the potential to be worth quite a bit more if simple renovations are made. In both cases, house flippers need to properly assess both the current market value of the home as well as its potential market value.
With a knowledgeable private money lender on your side, you’ll have a reliable advisor that you can turn to in order to assess the current market value of a property versus its potential. The experts at ZINC Financial can help you assess the true value of the property before you purchase it and provide guidance as to the home renovations that will have the most significant effect on your eventual ROI. The team at ZINC Financial has years of experience helping investors make wise decisions and find investment properties with the greatest chance of success.
To learn more about the loan programs offered by ZINC Financial, call 559-326-2509 today. With ARV up to 65%, quick decisions, and funding in as little as 7 to 10 business days, ZINC is ready to serve as your partner during your next investment.