Have you considered investing in real estate? The housing market is an excellent place to invest, and one that creates a steady flow of income for the investor. Out of all the real estate markets to invest in, why Redding, CA? Here are some reasons you should invest in homes for sale in the area.
Consistent Market Trend
Before making an investment, you should always start with looking at data. The home value in Redding increased by 6.6% over the past year and 2017 showed continued growth. The average home in Redding is now worth $244,900. Four years ago, the average was only $211,000. This steady increase in Redding real estate over past years is predicted to continue; Zillow predicts by 3.5% in the next year.
What else sets Redding apart as a rich place for real estate investing? Redding’s cost of living ranks 20% lower than the California average. Redding has become an attractive place to live in the last ten years as people from the Sacramento/Bay Area come north each year. What sets Redding apart compared to cities closer to the urban areas is the cost of living. Goods and services in Redding are 6% lower than the state average, and housing is 5% lower. These two areas (goods and services, housing) make up the majority of the cost of living index. Not only is Redding affordable, in recent years small local business made the city a great place for commerce. Redding’s economy is heading in the right direction.
The surplus of colleges and universities in the area make for another reason Redding is a great place to invest in real estate. Students come by the droves every year looking for a place to rent. Many business people in Redding have made it a point to buy several apartments in the area and market them online to incoming students. If you can afford the investment into small homes and apartments, there’s a line of five thousand students every fall that want to rent.
House flipping is another viable option for the real estate investor in Redding. In this particular venture, the goal is to buy and sell as fast as possible. The information age makes it easy for anyone to track houses coming in and out of the market. With the right strategy, you are able to quickly resell and upsell in the Redding market.
All in all, Redding’s real estate market is a rich place to invest. Real estate in Redding is on the rise as a place to flip houses, rent out apartments, or to buy your first home. The market has proven itself a safe place, even in recent times when the national market has been shaky. It would be wise to invest in Redding’s housing market.
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