Local house flipping company Rapid Home Liquidation has recently expanded the area of South Jersey that they buy houses in, and are now advertising we buy houses in Burlington County, NJ. The company is targeting homes in Tabernacle, Mount Holly, Shamong, Chatsworth, Medford, Medford Lakes, Evesham, Marlton, Moorestown, Bordentown, and all throughout both Wharton and Lebanon State forests.
Burlington County, NJ is the second largest county in the state, only behind Ocean County which leads by a relatively small margin. The county is home to roughly 500,000 residents who are mostly condensed within Evesham Township which is home to around 50,000 people.
The median list price for homes in Burlington County, NJ is around $240,000 and the average days on market is 60. There were 619 units sold on the open market throughout September in this county and the sale to list price ratio is 98.26%. There are 2,000 active listings on the market right now and the active inventory is down 25% from this time last year. The median sale price, however, has increased 7% since this time last year.
Homes in Burlington County sold for 1.74% below asking price on average throughout the month of September, and there were 800 new listings which is up 3% from one year ago. The average price per square foot on homes sold in the county was $136 which is lower than the Philadelphia-Camden-Wilmington Metro area which averaged in at $151 per square foot.
The real estate market is listed as "very hot" on Zillow's market temperature map which indicates that right now it is mainly a sellers market. The median rent price in Burlington County is $1650 which is higher than the Philadelphia Metro average of $1575. In September, there was 3.3 months of supply on the market compared to 4.8 in September of 2018.
House Flipping Companies like Rapid Home Liquidation will offer local Burlington County homeowners cash for their houses in Mount Laurel, Chatsworth, Marlton, Moorestown, Willingboro, Palmyra, Browns Mills, Burlington, Roebling, Bordentown, Mount Holly, Evesham, Shamong, and Tabernacle South Jersey. They also purchase and flip homes in Wharton State Forest and Lebanon State Forest no matter how desolate or remote the location is.
Sellers who want to sell their Burlington County, South Jersey homes fast can benefit from having a real estate investor who is willing to buy their house fast with cash because it can provide a series of advantages that don't normally apply when you are listing your home on the open market with a licensed realtor. Selling a property to a local house flipper can also be beneficial to homeowners who are stuck paying expensive monthly holding costs such as taxes, utilities, and other recurring charges.
Investors will sometimes even buy homes that have mold problems, foundation issues, or bad septic tanks. These homes cannot be listed on the market because no lender will fund a deal where the property needs major structural repairs, so the seller either needs to make the repairs themselves or locate a cash buyer who will purchase the home in its current condition.
After rehabbing the home, the investment company will then relist it back on the open market at or just under full market value so they can get a fast closing and make their profits, and then move onto the next deal. Rapid Home Liquidation has flipped two properties in South Jersey within the past couple of months, and now they are looking to flip a house in Burlington County hopefully somewhere near or within the state forests.
To learn more about selling one's South Jersey home fast to a cash buying investor please click on the links in this release to be taken directly to the company's website.
SOURCE: Press Advantage [Link]
Rapid Home Liquidation is a property investment firm based out of Philadelphia that buys houses quickly with cash in Philly, South Jersey, and the rest of the surrounding Tri-State area.
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