Housing market predictions for 2016 are starting to emerge, and it’s only good news for house flipping professionals. If you’ve been waiting for the end of summer to start searching for a fix and flip property, the time to act is now. We are currently offering an exclusive 9.9% rate on new fix and flip loans, but this promotional rate will only last for one more month. Give us a call in the next few weeks to learn more about this excellent opportunity to take advantage of the current California housing market.
Real estate data firm CoreLogic predicts that home prices will increase 4.7% from July 2015 to July 2016 across the country. This marks a slight slowdown from the current rate, but still an excellent year-over-year gain for property investors.
And the great news is, markets in California are doing even better than the rest of the country. In fact, 11 of the 20 hottest real estate markets are in California. San Francisco, which is at the top of the list, had a year-over-year gain of over 10%. Other California markets currently on the hot list are San Jose, San Diego, Santa Rosa, Sacramento, Yuba City, Stockton, and Los Angeles, among others.
Mortgage rates are expected to go up by the end of 2016, possibly reaching 5.1%. This could deter some potential buyers, but the continuing gains in the job market are making homebuying possible for a wider segment of Americans. Student loan debt is likely to keep some Millennials out of the market, but many Millennials are rising up in the workforce and realizing that it makes more fiscal sense to buy than to rent in the current marketplace.
All of this is great news for house flippers. The fall and winter months are an ideal time to seek out house flipping loans and invest in rehab properties because prices are at a low point for the year. Competition is also down in fall and winter, giving you a few months to find the perfect property, get your renovations in place, and have a house ready to sell in spring or summer.
So lock in our current low rate on residential rehab loans while you still can. Our current promotion will last until October 31, 2015, and is good for a loan rate of just 9.9% on all rehab loans for up to one year. Loans can range from $50,000 to $1 million. Give our team a call today at (559) 326-2509 to learn more about our specific loan programs and the current California housing market.