Jacksonville House Flipping Market Predictions for 2021
Have you been reading all the market predictions for 2021?
Zillow is predicting 10.4% increase in home sales for the next year. This is after we already had an 8.7% increase in the last 12 months.
The Jacksonville Business Journal reported that luxury home sales in Jax were up 80% in a year over year comparison, when looking at a period ending Nov 30, 2020. NEFAR even reported that July 2020 average home prices jumped 15.3% over June of the same year. August of 2020 saw a 10.4% increase over August of 2019. These are some of the highest prices The First Coast has ever seen.
The worldwide pandemic has more people working from home these days. This has also influenced our market. Since homeowners are spending more time in their homes, they are doing more improvements and or deciding their homes are not working for them anymore. All these plus interest rates at a record low of 3.2% on average and many other factors are affecting and driving our market.
Home Flippers are another driving force in our market. Given that prices are rising so fast, areas once not considered profitable are now becoming great opportunities for Flippers. Homes that have sat abandoned for years are becoming great deals for local Flippers. Take a trip through some of the cities older, less expensive neighborhoods and you can see the vibrate construction activity going on. You will even see that old vacant lots have new homes being built. The Bowen Road neighborhood is a great example of that. There are at least 15 or 20 new homes in the area on once vacant land.
These are the opportunities that our company can help you with. Solid Capital Growth can help you build your portfolio by funding your next flip. We could even partner with you to build a spec home to be sold upon completion. Our company has the flexibility to customize a program just for you and your project. We have a quick approval process and reliable, expedited funding. Let us partner with you on your next flipping adventure. Solidcapitalgrowth.com
Written by Tim Locke, President
Solid Capital Growth Inc
