The Sacramento Real Estate Market: Hard Money Loans for Capital in the Capital City
Sacramento, a city built on the Gold Rush, is still a prime place for real estate investors to dig up great finds. California’s capital city is a still-growing town that is home to state government institutions, corporate headquarters, and a thriving healthcare industry. These are the kinds of jobs that make for a booming real estate market, and investors and fix-and-flippers can find gold all over the city. A hard money loan from Socotra Capital can be just what a smart real estate investor needs to get ahead in Sacramento.
Understanding the Sacramento Real Estate Market
To say that the Sacramento real estate market is booming would be an understatement. Average home prices have jumped 16% over the last year, with an increase of nearly $50,000 this year alone. This is mostly being driven by inventory, as new home construction has declined slightly and more people are moving into existing homes. This is excellent news for fix-and-flippers and residential rehabbers.
The confluence of economic events that are driving this include overall growth in California, as well as Sacramento’s propensity for attracting tech companies. The Sacramento tech sector is expanding and it’s bringing in young, skilled talent with money to spend. They will be looking for luxurious, tech-friendly, eco-conscious amenities in both rental properties and refurbished homes to purchase. The smaller inventory of houses means that pre-existing homes, rehabbed with a hard money loan, will be hot items on an already-hot market.
Of course, the main employers in Sacramento are still the state and county governments, which attract plenty of young workers in addition to established families who have permanent positions. This mix creates economic diversity, which means that all price ranges are represented in the buyer and renter populations.
There are a lot of neighborhoods in Sacramento to choose from for a real estate investment. Southland Park, with its convenient location, good prices, and great backyard and park spaces, is a hotbed for young professionals, while Cresleigh Lake Village and Elk Grove are ideal for young families. Del Dayo has some of the best schools in the city. If you are looking for a higher-priced clientele, Serrano and El Dorado Hills are increasingly upscale and attractive to the newer money that’s arriving. There are tons of opportunities all around Sacramento for the smart investor.
Socotra Capital’s Hard Money Loans Help You Get Ahead in the Sacramento Market
It’s not exactly accurate to say that there is a new gold rush in Sacramento, but its growing economy provides an ample vein for anyone in real estate. Here at Socotra Capital, we understand the Sacramento real estate market and our hard money loans can get you the capital you need to compete in the capital city. Sacramento is changing in a positive way. Socotra Capital can help you be a part of it.
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!