According to a recent article in the LA Times, the number of homes sold in Southern California during November was up 14% from the same month last year. The increase in sales marked a new high point for the month of November over the last six years. The increase also marked 11 straight months of year-over-year increases in the Southern California housing market. Median home prices during the month of November were $321,000 in the region, up from $315,000 in the two prior months. In November 2011, the median home price was just $275,000.
The Southern California housing market has been helped by an increase in sales of higher-end homes. Data Quick, a real estate research firm which provided these figures noted that buyers in the area feel confident about their jobs, the economy, and the housing market in general. The firm also noted that short sales are still making up about a quarter of all home re-sales in the region, which indicates that the market is still recovering.
These figures indicate that the window for house flippers to get involved in the Southern California housing market is still open. Before long, the number of short sales will go down and house prices will most likely rise again. However, right now home prices are still at a low point, though steadily resurging. In addition, federal mortgage rates are at an all-time low and buyers are regaining confidence in the housing market. Smart house flippers are diving into this market and making substantial ROI on their Southern California property investments in a matter of months or even weeks.
If you’re new to the house flipping market or simply need a reliable partner that you can turn to for quick and sizable private money loans, contact ZINC Financial today. Our expert loan advisors can provide you with the rehab loans that you need in as few as seven to ten business days, giving you the buying power to take full advantage of Southern California’s resurging housing market. Call (888) 552-6637 now to learn about our available loan programs and how we can help you find the ideal investment opportunity.
Talk to a rehab loan lender today at Zinc Financial by calling Sr. Loan Officer Steve Armenta at (888) 552-6637 to learn more about specific steps you can take to make your investment properties more green. With our investor rehab loans, you can make the world a more environment friendly place one home at a time while also turning a profit for yourself. It’s a win-win situation.