Hard Money Loans in Santa Cruz County: Stunning Sequoias and Glittering Seas
People love California because it “has it all”—the mountains, the coastlines, the culture, the Mediterranean climate—and Santa Cruz County really lives up to that reputation. Encompassing a gorgeous swath of coastland just southwest of San Jose, Santa Cruz County is home to several thriving communities set against some of California’s loveliest landscapes, making this a real estate investment dream. The market is vibrant in Santa Cruz County and showing steadily appreciating home prices. Don’t miss your chance to capitalize on this opportunity: Socotra Capital can get you a quick hard money loan for residential rehab or mixed-use development projects in the area.
The Magic of the Santa Cruz County Real Estate Market
The great thing about the Santa Cruz County market from an investment perspective is the diversity and strength of both the local economy and culture. With several institutions of higher learning, including UC Santa Cruz (famously home of the “Banana Slugs”), a strong transportation infrastructure, and beaches and forests to attract tourists from around the globe, Santa Cruz County is a can’t-miss opportunity. The winemaking industry also maintains a strong hold and is a vital economic driver for the region, attracting both tourism and businesses.
Looking at the City of Santa Cruz as an example, we see the price per square foot is $557 on average as of October 2015, rising a healthy 14.4% compared to the same time last year. Median home sales prices are also appreciating, currently up by 10.3% from last year to hit $68,750. That’s an affordable rate considering the beautiful location and appreciating prices. The varied economy of Santa Cruz County attracts a lot of families, professors, and professionals that look for affordable, contemporary, single-family housing. For investors, this means demand for residential rehab projects to update some of the area’s older bungalows and single units. Additionally, the student population always needs apartments for shorter-term housing in proximity to UC Santa Cruz. It’s a great opportunity to invest in a mixed-use development with shops on the ground level and residential units above.
Join the Santa Cruz County Market with a Hard Money Loan from Socotra Capital
Santa Cruz County has proven its vitality and staying power as a real estate market. It’s not hard to see why this area is so popular with its residents—from beaches and mountains to everything in between, Santa Cruz County has what it takes to attract new residents and stay economically and culturally vibrant for years to come. Whether you’re looking to fix-and-flip an older Santa Cruz home or break ground on new residential or mixed-use developments, Socotra Capital can get you the hard money loan you need to set that vision in motion. With our experience in the industry, we know a good real estate investment when we see one.
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!