Hard Money Loans in Redding: A Growing Market for a Changing Economy
The real estate market in Redding is coming back from a long period of doldrums, so it’s full of ripe opportunities for the professional investor or rehabber. Tucked deep within the Sacramento Valley, this river town, which traditionally relied on lumber to boost its economy, has diversified in the wake of the industry collapse and is now experiencing a concurrent real estate rise. This is great news for investors, who can still get in on the ground floor.
What You Need to Know about the Redding Real Estate Market
Redding was once a key player in the California lumber market, but when the industry slowed down, so did the town. It wasn’t one to stay down, however. Its growth slowed, but never stopped, as it developed a more diverse economy, featuring corporate headquarters, health care services, retail, and tourism. It has also become a hub for startups, featuring some of California’s most innovative companies. This is attracting a young and educated workforce, which is perfect for a real estate market on the rebound.
The real estate market in Redding was slightly depressed after the local slowdown and the national recession, but it is jumping now. Median home sale prices spiked 9% from 2014 to 2019. But with prices still below the California average, now is a great time to get in, rehab a property, and flip it. A new economic class means great opportunity.
Some of the more popular neighborhoods include Gold Hills, Country Heights, Northpoint, Mary Lake, and Girvan. The Downtown area is becoming a more popular residential area as well, as stores and restaurants are opening back up, attracting residents from the tech sector to this once-quieter area.
Socotra Capital Provides Hard Money Loans for the Redding Market
Redding has dealt with economic swings perfectly: it kept what it could of the past and embraced the future. Real estate is rebounding along with the town. We understand the Redding real estate market and our hard money loans can get you the capital you need to compete in the Sacramento Valley. If you’re ready to move forward with Redding, Socotra Capital can help.
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!