|By PR Newswire||
|August 30, 2013 03:00 AM EDT||
GREENVILLE, S.C., Aug. 30, 2013 /PRNewswire/ -- South Carolina Hard Money Lender Lima One Capital has released its analysis of real estate market data in Greenville, South Carolina. Greenville Hard Money Lender Lima One Capital finds the decrease in foreclosures and the increase of home-flipping activity from 2010 figures as positive signs of economic recovery in the Greenville real estate housing market.
Using data compiled by RealtyTrac, Lima One Capital saw a 27% decrease in foreclosures between the end of 2010 and the end of 2011. Foreclosure levels increased slightly in 2012 but did not reach peak levels seen in 2010.
Profit from the purchase, rehab, and sale of investment properties was volatile between 2011 and June 2013, but remains a dramatic improvement over a historic ten-year low seen in 2010. The number of homes being flipped decreased by 73%, to a five year low between 2007 and 2009. By 2012 home flips increased by 206%, posting figures similar to what was seen before 2009's drop in home flips.
"Greenville is a fantastic market in which to do business in. It is a medium-size Southern city that has a dedicated and growing investor base," states CEO and Founder of Lima One Capital John Warren. "Our clients in Greenville have a clear vision for the projects they undertake. Their hard work is helping to transform unwanted properties into beautiful homes and thriving communities. We are very excited to see Greenville continue to grow into one of the best towns in the country."
The RealtyTrac data shows Greenville as a market in recovery. 2009 and 2010 saw the highest levels of foreclosures and the lowest levels of home flipping activity. Due to its size, Greenville shows more volatility in its recovery than larger markets such as Atlanta and Charlotte.
Data between 2011 and June of 2013 shows fluctuation in foreclosure numbers occurring due to this smaller sample size. Even with this fluctuation, trends remain consistently better than 2009-2010 levels. The increase in home flipping activity and the decrease in foreclosures from 2009 levels shows a market on the road to recovery and growth for the future.
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.
CONTACT: Justin Thompson, 1-404-908-0080, [email protected]
SOURCE Lima One Capital, LLC