The Stockton Real Estate Market: Hard Money Loans for a Growing Community
Stockton, California, has had a lot of nicknames: “California’s Sunrise Seaport,” “Mudville,” “Brick City,” “Port City,” and, most recently, “All American City.” All the while, though, the city has stood firm on the bank of the San Joaquin river, from which it was born, as the people of Stockton remain hard-working, good people. Although the town has seen some tough times, it’s currently on an upswing, which provides a great opportunity for the real estate investor. With the help of a hard money loan from an equity-based lender, you have the exciting chance to take part in Stockton’s regrowth.
Understanding the Stockton Real Estate Market
Stockton was hit hard by the 2008 financial crisis and the real estate bust. It lost 39% of its housing values in 2008 and 2009 and saw hundreds of foreclosures. In 2012, it became the largest city in American history to declare bankruptcy. Stockton has had a rough go lately, partly due to real estate, but it’s starting to get back on its feet.
Real estate is leading the way. As a side effect of foreclosures, Stockton has an enormous amount of distressed properties that should regain their value as the economy continues to rebound and dig itself out. Due to the state of many of these places, it is an ideal location for a fix-and-flip to bring the house back up to its market value. As the housing market climbs back, the rental market is still going h2, and investing in an apartment with a buy-and-hold hard money loan is still a smart thing to do.
As it comes back, there are some neighborhoods in Stockton that continue to hold more current value and/or future value than others, and you may want to begin your real estate hunt in one of these areas:
- French Camp: Residential, near the airport
- Tomspur: Largely single-family homes
- Morado: Full of apartments and condos
- Brookside: On the water, a rent and lease community
- Lincoln Village West: A pleasant mix of single-family and rental
Hard Money Loans from Socotra Can Help Bring Stockton Back
If you are looking to renovate a house or apartment with the intention to sell or are hoping to buy property at an auction, equity-based hard money loans from Socotra Capital are what you need to get moving. We understand the Stockton real estate market and we can help you succeed. Whether you are looking to refurbish a single-family home or get in on the rental market, we get you fast approval so you can get to work. Stockton may have had rough times, but it’s time to start rebuilding. Socotra Capital can help you be a part of it.
Socotra is California’s premier hard money lender for your real estate investment needs. Contact us today to get started on your quick approval!