Real estate investors looking for incredible opportunities for fix & flip homes shouldn’t overlook properties in the Bay Area. While Southern California’s market is doing better than the national average, investors located in SoCal would be remiss if they didn’t look past their local neighborhoods to San Francisco and the surrounding communities.
According to target=”blank”>Realtor Mag, California has six of the seven metro areas with the fastest rising home prices in the country, and five of those areas are in Northern California. In February, San Francisco experienced a year-over-year increase of nearly 26% in median asking prices. The median listing price was $769,000. Next-door in Oakland, the median listing price was significantly lower at $419,000, but that signified a year-over-year increase of over 30%. Likewise, nearby San Jose experienced a year-over-year increase of over 29%.
And these fast-rising house prices aren’t stopping anyone from buying. In fact, according to the San Francisco Business Times, a new housing development at the former Bay Meadows racetrack recently put their first ten homes up for sale. All ten homes sold out by the end of the day.
Bay Meadows is hardly an anomaly in the area. Due to all-time low federal mortgage rates, increased buyer confidence, and an extremely low inventory of available homes, home buyers are frequently paying well above asking price to get into their dream homes.
Great News for Investors Interested in the Fix & Flip Market
All of this is great news for property investors who are interested in getting into the fix & flip market. While the number of foreclosed homes is diminishing, there are excellent opportunities to find homes with an exceptional chance of bringing you a high return on your investment in a matter of months. Prices are still much lower than they’ve been in years past, and it looks like they will only continue to go up for quite some time. Therefore, if you want to get into the game, right now is the time to do it.
You can take advantage of the amazing ROI opportunities in the Bay Area by talking to ZINC Financial today. As your private money lender, ZINC can help you find the best possible investment opportunities and give you the financial backing that you’ll need in order to be competitive in this fierce seller’s market. With fix & flip loans of up to $750,000 and approval in just 48 hours, ZINC Financial is the premier choice for your investment partner. Call (559) 326-2509 to learn more about the company’s loan programs.