Investors looking for quick profits in real estate, stocks or bonds are essentially gamblers or speculators. Savy investors do their homework in an effort to discern long term trends. And some of the most savvy realize that there are ebbs and flows in every market, but with real estate long term holdings almost always turn a profit.
In recent weeks there have been a growing number of pessimistic reports about the current state of the economy. Investors with a track record for picking more winners than loosers see storm clouds in the crystal ball. But many see tremendous potential in select markets.
Consider some recent reports about the Redding, California area. ONe of these noted that in Redding the average sale price of a home was up 8.2% since last year. The average per square foot sales price was $242 indicating a modest increase of 1.9% since 2021.
A year to date comparison, August 2021 to August 2022, shows that home prices were up one percent. An interesting indicator is the number of days between listing and sale, fifty-one days in 20221, fourteen days in late summer 2022.
There are, however, indications that the market is starting to cool. But the long term future for real estate in Redding and Shasta County, for investment or relocation, remains strong.
The overall employment picture is rosy. Supply chain issues that have stunted jobs growth over the past few years have improved dramatically. Mining, logging, agriculture, and construction sectors are strong.
Home building permits are up. A 300 million redevelopment project in downtown Redding is underway. New business development is strong as evidenced by construction of the new Costco.
The Shasta County Economic Development Corporation recently posted information that underscores a few reasons for long term economic optimism about the area. First, Redding is located on the I-5 corridor. This as well as access to nation wide rail and air systems ensure businesses have access to more than 50 million people within a 24-hour delivery radius.
The long term potential for industrial growth in Redding and Shasta County is enhanced with incentive packages. These include waivers of fees, electrical discounts that provide some of the lowest energy costs in California, and labor training assistance programs.
The highly acclaimed Stillwater Business Park is drawing the attention of companies looking to expand or relocate. And it is ideally suited for new industries. The 700 acre California State Certified shovel-ready site offers five to one hundred fifty acre parcels.
For investment, for retirement, for relocation or for any real estate needs in Redding or Shasta County, Lynch Mortgage powered by AmeriFirst Financial, Inc. is here to serve you. Our knowledgeable will provide professional as well as personal service to ensure your real estate needs are met, and that tranision is smooth.
Written by Jim Hinckley of Jim Hinckley’s America