The number of foreclosures in California has gone down significantly over the last few months, which is great news for the state’s economy and for house flippers in general. However, the current lack of foreclosed properties on the market means that investors will need to act much more quickly in order to secure ideal properties.
Foreclosures are a great opportunity for house flippers because they’re usually priced much below their market value and often require a minimal repairs to significantly increase the price tag. According to The Sacramento Bee, California has had the most foreclosures per month of any state since January 2007. This changed for the first time in January of this year. The number of foreclosures in California dropped 39.5% from the previous month and nearly 65% from January 2012. What this means for house flippers is that there is an increased level of competition to purchase the remaining inventory of foreclosures in California.
House flippers who are able to act the quickest have the greatest advantage in this market. This is one of many reasons why flippers are turning to ZINC Financial for rehab loans. ZINC offers one of the fastest application turnaround times and loans in as few as 7 to 10 business days. With ZINC Financial as your rehab loan lender, you’ll have increased buying power in order to act quickly when a new foreclosure goes on the market.
The decrease in foreclosures is good news for the economy and the housing market in general, and this is good for house flippers as well. An improving housing market means greater buyer confidence and, as a result, more people buying. As housing prices continue to increase, house flippers will continue to have excellent opportunities to buy undervalued homes and resell them in a matter of months or even weeks for a strong ROI. The only downside of the improving housing market is that, again, flippers need to be able to act very quickly.
Part of acting quickly as having excellent information at your disposal and the research power of a strong investment partner. With an advisor at ZINC Financial on your team, you’ll be able to make more informed investment decisions and help diminish the risks of your housing investment. Call (559) 326-2509 today to learn more about our available loan terms or to speak to an advisor about house flipping opportunities suited to you.