Elk Grove Real Estate: Hard Money Loans for a City’s Second Growth
The real estate market in Elk Grove is back in business after several years of slowdown. This city, which was one of the fastest-growing in all of the U.S. during the 2000s, was hit hard by the recession, but now, buoyed by a resurgent Sacramento, it is growing again. New construction in Elk Grove is augmented by the need for residential rehabbers and fix-and-flippers to take advantage of the current market to provide high-standard housing for new residents. It’s a market on the rise and Socotra Capital can help you be a part of it.
Understanding the Elk Grove Real Estate Market
Elk Grove, a suburb of Sacramento, was incorporated in 2000 with a population of around 50,000, a huge uptick from a mere 17,000 a decade prior. That growth has since been far surpassed, with the city now home to over 160,000 residents. It was the single fastest-growing city in the U.S. in 2004-2005. But the recession battered it, leading to years of slowdown. However, thanks partly to Sacramento’s ability to draw in tech companies, that has changed. Construction is now up 250% from last year.
It isn’t just Sacramento, though. Elk Grove is home to offices for major Bay Area tech companies, as well as national health care businesses. It can attract more residents, which means it can attract more businesses hoping to take advantage of those residents. And as the Sacramento area continues to bring in tech companies, more companies will be moving out to Elk Grove in hopes of appropriating some of that talent.
All of this means that the underpinnings of the current boom are on a more solid footing than they were in the early 2000s. There is an infrastructure for sustained growth, which makes the 5% increase in home prices from May to August of 2015 a positive sign. Modest, continual growth is the watchword for Elk Grove, and it’s the reason why investors, builders, and rehabbers should be excited about getting back into the market.
Socotra Capital’s Hard Money Loans Help You Get Ahead in the Elk Grove Market
Periods of quick, booming expansion are often accompanied by growing pains, and that’s what happened in Elk Grove. It’s past that now, and ready to grow in a sustainable and profitable way. We understand the Elk Grove real estate market and our hard money loans can help fuel its new growth. Elk Grove is ready for business. Socotra Capital can help you be ready, too.
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!