Real Estate News Published December 17, 2012 By Aaron Schoenberger
Time for California House Flippers to Act Fast

House flippers and other real estate investors in California are seeing their window of opportunity closing, and new statistics published by DataQuick show they must act fast.

DataQuick's statistics show that the median price of all houses and condos sold in California in November was $291,000, up 19.3 percent from November 2011. Additionally, the number of homes sold jumped almost 15 percent to 37,481. As you can see, the housing market is warming up.

What's most interesting, especially from a real estate investor's perspective, is that 32.5 percent of all November home sales were all-cash deals, according to DataQuick analyst Andrew LePage. That's more than twice the average.

Keep in mind there's a chance the increase in prices has been driven by speculation. “While some speculators buying up homes at a bottom can be positive, the sort of price rises that you are seeing there may be excessive,” Dean Baker, co-director of the Center for Economic Policy and Research in Washington, said in an email to the Los Angeles Times.

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About Author

Aaron Schoenberger is a marketing executive, entrepreneur, and real estate investor with a passion for business. He writes about a wide variety of topics ranging from real estate marketing to fixing and flipping homes, and has had his work published on numerous industry-related websites. Mr. Schoenberger is a thought leader and is viewed as a authority when it comes to online public relations, social media, and search engine optimization (SEO).


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