It's true that there are fewer foreclosures on the market, but savvy house flippers are still finding undervalued properties all over the state of California and turning hefty profits. That's why we're offering this discount on our rehab loan programs.
Clovis, California (PRWEB) April 08, 2014
ZINC Financial, a private money real estate lender in California, reports that house flipping is booming throughout the state. Hard data, multiple news reports, and the success of ZINC's own fix and flip clients show that the upward trend of house flipping in 2013 is continuing into the current year. As ZINC Financial recently reported, house flipping is up 114% in the United States since 2011. Additionally, earlier this year, USA Today shared data that homes flipped in California sold for nearly $100,000 more than they were purchased for last year, and those high numbers are expected to continue through 2014.
Due to the fact that the house flipping market is currently so profitable, ZINC Financial has announced a new offer for rehab real estate financing. From now until April 30, 2014, ZINC Financial is offering 30% off of investors’ current fix and flip loans.
Todd Pigott, President of ZINC Financial explained, "Bring ZINC Financial your recent loan closing statement from any private money lender, and we will offer you up to 30% off on your loan origination and fee costs." This offer only applies to an investor's most recent loan. Pigott added that any investor taking advantage of this offer may continue borrowing at these incredibly low rates provided that all payments are made within the grace period and all loans are paid off as agreed.
"The housing market is in a very interesting position right now," Pigott commented. "We're looking at a market characterized by increasing overall stability, but also steadily rising home prices and high demand. It's true that there are fewer foreclosures on the market, but savvy house flippers are still finding undervalued properties all over the state of California and turning hefty profits. That's why we're offering this discount on our rehab loan programs."
Real estate data firm RealtyTrac has found that 21% of homes flipped in 2013 were purchased out of foreclosure, which marked a 6% decrease from 2012 and an 11% decrease from 2011, Yahoo! reports. In other words, despite fewer foreclosures available on the market, investors are still managing to make more per flip, and they're doing it all in less time. In 2011, it took an average of 100 days to flip a home. In 2013, that number was down to 84 days.
In the same article, Yahoo! also revealed that homes purchased for flipping in 2013 were bought at an average of 13% below market value. Investors are continuing to see these kinds of discounts in 2014, allowing for excellent returns when the time comes to sell. As the LA Times reports, spring is shaping up to be a seller's market across Southern California as sellers enjoy quick sales and minimal price cuts. Home prices are not going up dramatically in the state, but sellers are regularly receiving their asking price or higher.
The same article notes that seven of the current top ten seller's markets are in the west. San Jose and San Francisco are at the top of the list. California is currently the second best state to flip a home in, topped only by Massachusetts, where rehabbing real estate brought investors an average gross profit of $103,384 in 2013. Though the New England state may win the averaging game, California wins out when it comes to the sheer number of properties available to be flipped.
"From San Diego to Sacramento, there are countless neighborhoods across the state of California that offer excellent opportunities for rehab real estate," Pigott said. "Chances to make excellent ROI on rental real estate investments are also exceptional right now, and we're encouraging all of our clients to seriously consider both investing strategies."
About ZINC Financial
ZINC Financial provides reliable rental real estate financing to qualified property investors throughout the state California. Known for offering exceptional service and some the fastest processing times available, ZINC Financial has helped countless clients achieve their property investment goals. ZINC Financial offers real estate rehab loans as well as buy and hold loans to experienced investors and house flippers. The team at ZINC provides clients with the advice and resources that they need in order to achieve maximum ROI.
Partnering with ZINC Financial gives clients the buying power to move quickly and effectively in the ever-changing housing market. With ZINC, investors can get the necessary cash to invest in multiple properties, finish projects sooner, and achieve greater returns. To learn more about the services and rates offered by ZINC Financial, contact the company today by visiting http://www.ZINCFinancial.net or calling (559) 326-2509.