Up and Coming Cities In Arizona, California, And Colorado
The real estate market has recovered from the bubble bust of 2008 and is in full growth mode again. Many properties are being resold and new projects are being built on a daily basis across the nation.
Like most healthy real estate markets, there are also a number of short sales and foreclosures that are available. These properties provide amble investment opportunities for companies that renovate and resell properties.
Arizona, California, and Colorado offer some of the best places for these real estate investment opportunities.
Arizona is a popular location for millions of people. The metropolitan area of Phoenix offers a variety of investment opportunities for single family residences, multifamily buildings, and even commercial properties.
The area was hit hard by the 2008 bubble burst and there are still a considerable number of empty houses throughout. Some of the best investment opportunities for the state include Phoenix, Mesa, and Scottsdale.
Phoenix offers a variety of housing styles for area residents. The city has a vibrant nightlife and tons of things to do. The area is experiencing a growth spurt due to several technological companies relocating to the area.
There are almost 7,000 homes currently on the market in the Phoenix city limits. The median home price is $211,000. There are several well sought after neighborhoods within the Phoenix city limits including Ahwatukee Foothills, Camelback East, and Deer Valley.
Mesa is another popular city in the Phoenix metropolitan area. This city offers a variety of housing needs and is also experiencing a growth spurt in residential and commercial real estate. The median prices in Mesa are around $221,000 which is the lowest in the East Valley.
Scottsdale offers some of the highest home values in the state of Arizona. There are around 3,000 homes currently for sale in Scottsdale. The prices range from around $200,000 up to several million dollars. The median home price is $421,000.
North Scottsdale, Pinnacle Peak, and South Scottsdale are among the most sought after neighborhoods in this luxurious desert city.
California is another popular location for millions of people. The state offers beautiful weather most of the year around. There are tons of job opportunities throughout the state as well.
The real estate market in California took quite a bit of a hit in 2008 too. However, recent revisions to tax laws and a short supply has seen the demand for real estate skyrocket in the state. Some of the best places to renovate and resell properties would be San Diego, Palm Springs, And Sacramento.
San Diego is a popular city due to its location on the coastline. This popularity causes the city to have some of the highest median home values in the state. These values are currently averaging around $572,000 and are steadily increasing. There are currently over 3,000 residential properties on the market within the San Diego city limits.
The most popular neighborhoods include Bay Park, Del Mar Heights, and Grandville. Grandville is especially popular with families due to its’ lower home prices.
Palm Springs is another up and coming area in California. The real estate prices here are also among the highest in the state. Median home prices are currently around $304,000. There are approximately 700 properties currently for sale in Palm Springs.
Sacramento is the most popular city in Northern California. It offers families the most affordable housing prices in the entire state. Median prices for homes in this area are currently around $299,000 and are on the rise. There are approximately 1,400 properties for sale on the market.
The most comparable cities to Sacramento are Aren- Arcade and Carmichael. Both of these cities have median home prices well above $325,000.
Colorado is a popular state that offers residents a variety of seasons, outdoor activities, and employment options. Recently, the state has seen an influx of new residents. This spike in residents has also caused a spike in real estate transactions. While Denver and Boulder already have sky-high prices, the suburbs that sit between them are in a growth phase. Theses include cities such as Thornton, Broomfield, and Arvada.
Thornton is a great city that is experiencing a fast growth rate. Part of this sudden surge has been due to the job opportunities that arose from the possibility of a new Amazon location. The close proximity to downtown Denver is another reason that Thornton is a popular place for families and young professionals.
There are currently 470 properties on the market in the city. These properties have a median value of $321,000.
Broomfield is another great choice for investing in real estate properties in Colorado. The city is located almost directly between the downtown areas of Denver and Boulder. Broomfield has great schools and overall high housing values. The median price if approximately $394,000.
Arvada is another up and coming area in the Denver metropolitan area. Arvada is located on the western city limits and borders the Rocky Mountains. Arvada offers residents lower housing costs than other cities in this area. There are currently around 400 properties on the market with a median price of $368.000.
Short sales, foreclosures, and other properties offer tons of opportunities for fix and flip investments. Orchard Funding is a private company that offers real estate financing to companies that are involved in these transactions. Orchard Funding offers financing for the purchase and refinancing of single family residences, multifamily buildings, and commercial properties that are in need of these types of services.
Contact Orchard Funding Today!
Orchard Funding will provide companies with up to 90% of the funds needed for the purchase, renovations, and marketing to resell the investment property. These loans are typically for terms of six months to a year, however extensions may be available. Loan amounts are available in amounts from $100,000 to $3,000,000 for single family residences. Multifamily and commercial property loans are potentially available for up to $7,500,000.
Orchard Funding processes every step of each loan right in its’ offices. This allows them to offer borrowers funds at a much faster rate. Contact Orchard Funding today at (310) 356-7373 for more information.