Hard Money Loans in Contra Costa County: Real Estate Opportunities on the “Opposite Coast”
Contra Costa is Spanish for “opposite coast.” It’s a fitting name for this county that skirts just outside of Berkeley and Oakland, bordering the southern shores of the Suisun and San Pablo Bays “opposite” San Francisco, spanning a large swath of suburban land with great potential for future growth and development as housing prices continue to rise in the Bay Area cities.
According to the 2014 census estimate, the population of Contra Costa County was 1,111,339, and with Contra Costa’s comparatively affordable cost of living considering its proximity to the Bay Area, this figure seems poised for continued growth. Contra Costa’s affordable property values also make it a great location for the fix-and-flip developer looking to modernize an older home and get it back on the market.
The Future of the Contra Costa County Real Estate Market
Contra Costa County’s stunning natural landscape and Bay Area proximity have it poised to be a great spot for residential rehab and mixed-use development. Contra Costa County occupies the northern portion of the East Bay region and is primarily suburban. The establishment of the rapid transit system BART, the modernization of Highway 24, and the addition of a fourth bore in the Caldecott Tunnel all served to support the economic growth in the Diablo area, with cities such as Walnut Creek becoming edge cities. Within the county, central cities have spawned their own suburbs. These suburbs stretch along the county’s estuarine north shore, and the older development areas of Bay Point and Pittsburg are augmented by extensive development in Antioch, Oakley, and Brentwood. Since 2003, four Indian gaming casinos have been proposed in Richmond and the surrounding area of West Contra Costa County, which have the potential to attract tourism and economic stimulus.
The effects of the housing value crash (2008–2011) have varied widely throughout the county: in more affluent areas near good schools, property values have taken only modest reductions in value, whereas houses in the outlying suburbs in east Contra Costa County have experienced greater reductions in property value. However, for the fix-and-flip developer looking to take a charming older Contra Costa County home from the mortgage foreclosure market and modernize it, this could be the ideal time to enter the market. With low up-front costs, you can watch your investment ripen as the property values recover.
Socotra Capital Provides Hard Money Loans for the Contra Costa County Market
Contra Costa County’s diverse population and affordable property values make it an unbeatable location for residential rehab and development—don’t miss the chance to capitalize on the potential of this market as it takes off. At Socotra Capital, we understand the Contra Costa County real estate market, and our hard money loans can get you the liquidity you need to make your development ready for the 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!