Hard Money Loans in Napa: Make Your Real Estate Dreams Come True In Wine Country
The town of Napa is the very center of the crowning jewel in California’s real estate crown: Napa Valley. As a key part of the internationally celebrated West Coast wine country, “Napa” conjures radiant vineyards at golden hour, sipping chardonnay on a slow-rolling train as the coastline unfurls itself just beyond the glass window, a rich Mediterranean clime set to a slow rhythm.
By the dawn of the 20th century, Napa had become a vital economic hub for the Napa Valley as railway infrastructure developed in the region. As the county’s agriculture and wine industries began to flourish, light industry, banking, commercial, and retail industries soon followed throughout the Napa River area and into the historic downtown. This reputable and well-established community is still growing, making it a dream opportunity for the savvy investor. With a hard money loan from Socotra Capital, “Napa” can conjure the residential real estate project you’ve always dreamed of as you become a part of this vibrant and economically blossoming landscape.
Impressive Growth in the Napa Real Estate Market
The Napa lifestyle may be sweet and slow, but the economic development in Napa is anything but. Napa was listed by Bloomberg in 2014 as one of America’s strongest housing markets, with the biggest home price increase for the year. Bloomberg forecasted a 4-year price increase of 31.7%, and data so far seems to be strong. The hospitality sector in Napa is booming — the Economic Development Department of the Napa city government estimates that they get more than one request for a new hotel or restaurant every week. Those are the kind of sectors that build jobs, both in the rental and buyer’s market, as reflected in its 60% home ownership and 40% rental rate.
According to an article in the St. Helena Star, the impact of economic and real estate market fluctuations are mitigated in Napa by managed growth and the county’s natural resources, particularly in tourism and the wine industry. The unemployment rate in the Napa area fell from 11.1 percent in January to 9.3 percent in June, according to the US Bureau of Labor Statistics (BLS). Additionally, the redevelopment of First and Main streets and the Napa Mill shopping complex helped to stimulate investments along the Napa riverfront.
True to the positive forecast, median sales price and number of sales in Napa in year-over-year statistics show strong growth: +19.2% in number of sales and +13.6% in median sales price, placing the median price for a house in 2015 at $545,500.
Socotra Capital Provides Hard Money Loans for the Napa Market
Napa’s beautiful landscape coupled with a clear forecast for economic serendipity make Napa this year’s real estate development ace. Don’t miss the chance to capitalize on the developing market in Napa—the area is poised to be one of California’s best residential redevelopment sites, and we want to help you get started. At Socotra Capital, we understand the Napa real estate market and our hard money loans can get you the liquidity you need to get your fix-and-flip ready for this blossoming market.
Socotra Capital is California’s premier hard money lender for your real estate investment needs. Contact us today to get started on your quick approval!