Pleasant Hill mid-century masterpiece fix & flip
In the charming city of Pleasant Hill, CA, our borrower completed a magnificent, minimalistic remodel on this mid century home. They acquired the property in August 2023 for $800,000 and it subsequently sold for an impressive $1,700,000 on April 1st, 2024. This project, financed by Lantzman Lending, exemplifies the intersection of strategic investment, impeccable design, and meticulous staging; and the result was demonstrated in the sales price. Lantzman Lending made a loan for $845,000 on the property, and we truly impressed by everything from the perfectly manicured exterior to the carefully assembled interior color-pallet that was perfect for the homes design.
Pleasant Hill is located in Contra Costa County where prices have been on the rise for the past 5 months, albeit at a diminishing pace. Like much of California, home prices have been on the rise in 2024, and Contra Costa is no exception with an increase of a whopping 22% since January of this year. The new median home price of $942,500 is the highest in County since summer of 2022 when the median price reached $1,050,00.
Median home price in Contra Costa
| Jan-24 $770,000 |
| Feb-24 $850,000 |
| Mar-24 $890,000 |
| Apr-24. $940,000 |
| May-24. $942,500 |
As a whole it seems that the California market may be starting to cool a bit, or maybe the market is just taking a breath after a hot start to the year. The home prices in many counties that were on the rise since January have slowed in growth or even taken a small step backwards in the most recent May numbers. Marketing times in Contra Costa County remain very short at 10 days, and the amount of unsold inventory is holding steady at 1.5 months worth of inventory. High mortgage rates, short marketing times, and low inventory are creating a difficult market for buyers who are feeling the pressure to move quickly with limited choices…
At Lantzman Lending, we love to see successful, professional fix and flip projects like this one, as that means our clients will be coming back for more funding for their next success. We are dedicated to empowering our clients’ achievements through flexible, dependable financing solutions tailored to the ever-evolving real estate landscape.
Ready to embark on your next real estate venture? Contact Lantzman Lending today to explore how our efficient, personalized financing solutions can fuel your success. Let’s create something extraordinary together in the vibrant Bay Area.
Phone: (858) 720-0229
Email: info@lantzmanlending.com
