Summer is upon us, and the house flipping market is as hot as ever. Despite foreclosures being at their lowest rate since before the Great Recession, flippers across the country are making excellent returns on their investments. Homes purchased in the last few months and weeks are turning over quickly as more people head out to look for their newest home.
The housing market follows a predictable seasonal pattern. Things always slow down in the winter and then get hotter and hotter through the summer. The summer is the preferred time of year for families to move because the weather is nice (making packing up easier), they can line up their moves with vacation time, and they don’t have to pull their kids out of schools in the middle of a school year.
This summer, prices aren’t going up at an ungodly rate like years past, but they are still going up. And as more potential buyers start their home searches, we’re seeing more homes sell in just a few days and often for more than the asking price.
The most successful house flippers this year seem to be the ones working on multiple flips at once and turning homes around in a matter of just a couple of weeks. The key is to find homes that are out of date but solidly built. Such homes can be quickly and affordably renovated, leading to substantially higher selling prices in very little time.
Of course, in order to successfully juggle multiple house flipping projects, investors need strong sources of funding. With ZINC Financial’s house flipping loans, our clients are able to move quickly on ideal investment properties and get to work without worrying about having enough cash on hand to finish necessary repairs.
The top renovations that we’re seeing buyers respond to this summer are updated kitchens with modern, light colors and clean quartz or butcher block counters; laminate wood flooring throughout living rooms and bedrooms; and updated bathrooms that look fresh and unused.
To learn more about the latest house flipping trends or to discuss your house flipping funding options, give our office a call today at 559.326.2509. We can fund your next loan in as little as seven to ten business days at a competitive rate.