It’s no secret that investing in real estate is an opportunity to make some serious money. And with a few tips and basic knowledge, people are discovering that anyone in the information age can be an investor. Ready to try it yourself? Here are some ideas on why you should consider investing in homes for sale in Redding, CA.
Consistent Market Trend
Before making an investment, you should always start with looking at data. According to Zillow.com, the home value in Redding has increased 6.6% over the past year and forecasts for 2017 are showing continued growth. With this momentum, the median home in Redding has reached a value of $239,600. Looking back to only January of 2014, the median home value was $211,000. We’ve seen consistent, substantial market trends of homes for sale in Redding over the past 3 years and the growth is predicted to continue.
But what sets Redding apart from other cities in California? One differentiating factor is the average cost of living. Redding comes in at 9% lower than the state’s average for that metric. With a median household income of $43,550, that makes Redding an attractive place to live compared to monumental costs in other Californian cities.
Also, Redding is unique. It’s a small mountain town that has become the center of commerce for this region of Northern California. Because of the dominant local business community, Redding is picking up energy and heading the right direction as a healthy economy.
Strong Rental Market
Another highlight that makes homes for sale in Redding a good investment is the strong rental market. With popular schools and universities in the area such as Simpson University and Shasta College, each year there’s an increase in real estate demand from thousands of students looking to rent. This means if you can afford the investment into a second home, there’s a reliable source of tenants willing to pay the increasing rent prices.
Most real estate investors rely on growing long term equity over a period of time or renting out the property to turn a profit. A third option, known as wholesaling or house flipping, creates a third market for investors. Rather than holding on to the real estate, the goal is to buy and sell as fast as possible. If you can track leads of when houses will be coming on the market, your investment strategy can pay off with a quick resell and upsell. Redding homes on the market are selling quicker than ever, making this a strong investment strategy if you play your cards right.
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