Hard Money Lender Lima One Capital releases its analysis of Charlotte Foreclosure data
CHARLOTTE, N.C., July 18, 2013 /PRNewswire/ -- Hard money lender Lima One Capital has released its analysis of foreclosure trends in Charlotte, North Carolina. North Carolina Hard Money Lender Lima One Capital finds the increase in foreclosure sales and decrease in foreclosure inventory as two positive signs of economic recovery in the real estate housing market.
Using data compiled from RealtyTrac, Lima One Capital observed a 13% increase in foreclosure sales in Charlotte between 2011 and 2012. As of May 2013 Foreclosure inventory in Charlotte is down 32% from peak 2010 levels. If the current pace remains steady, another 8% increase in foreclosure sales is possible between 2012 and 2013. Taken together, the increase in foreclosure sales and decrease in foreclosure inventory are significant.
According to a Case-Shiller report, Charlotte home prices rose 10% between May 2012 and May 2013. A 2.7% increase in home prices was seen between April and May of this year, beating out the national average of 2.6%. Many real estate metrics are showing encouraging numbers in Charlotte and the United States as a whole.
Foreclosure data is a valuable statistic to chart the ongoing recovery of the real estate market. What can be pulled from the Charlotte data is a promising outlook for the real estate market through the end of 2013 and beyond. Taken together the increase in foreclosure sales has helped to dramatically decrease the foreclosure inventory.
Real estate investors are playing a large role in this trend reversal. "We have seen our clients' amazing renovations in the Charlotte area. Their work has completely revitalized foreclosed houses and neighborhoods," states CEO and Founder of Lima One Capital, John Warren. "Charlotte is a market on the rise. Foreclosures makeup about 20% of the total home sales, which makes this a great market for investors to profit from their flips. Our clients are providing significant impact by stabilizing the communities they are investing in."
Charlotte Hard Money Lender Lima One Capital is optimistic for the immediate future of the Charlotte real estate market. Foreclosure sales continue to increase and foreclosure inventory continues to decrease. 2009 to 2010 saw a massive flood of foreclosures hitting the market. The steady decrease in foreclosure inventory and increase in foreclosure sales since then is an indicator of increasing market stability.
Lima One Capital, LLC:
Lima One Capital is a hard money lending company in Atlanta, GA, Greenville, SC, and Charlotte, NC. The company specializes in providing first mortgage loans to real estate investors for the purchase and renovation of residential investment homes. Lima One Capital offers loan lengths of 13 months, 5 years and 6 years. A typical loan is closed within seven days, providing clients with the ability to capitalize on unique opportunities in the real estate market, immediately. Lima One Capital is revolutionizing the industry standard for residential real estate investment lending.
For more information on Lima One Capital, LLC, visit www.limaonecapital.com or call 404-908-0080.
SOURCE Lima One Capital, LLC