If you’re thinking of starting up some kind of real estate project, whether it’s flipping a house, or rehabilitating a building or other structure, now may be the time to strike. 2016 has been a good year so far in the real estate sector, with a lot of growth, and very encouraging signs that this growth is going to continue.
Foreign & Local Interest
One of the most surprising factors for growth in 2016 has been the level of interest coming from two different demographics. Foreign investment in properties, especially luxury properties continues to rise. This is especially true of Chinese investors that are looking for safe destinations to deposit their funds and enjoy some appreciation while avoiding the uncertainty of the Chinese economy itself.
But local interest in real estate also continues to grow. The stability of the economy in recent years has given rise to more interest from local buyers, with many people going out and committing to buying their first home. While the growth of local buyers hasn’t grown as quickly as it has with foreign real estate purchases, the growth is there.
The Right Season
Traditionally summer is also a good season for real estate. More people are on the look out to make purchases, and the last three months of this year have reflected that, with record breaking numbers in some areas. This is in no small part thanks to the lower mortgage rates that are making purchases very attractive right now. This, in combination with building demand, has created some great opportunities.
The only issue now is that the supply of available real estate may have trouble keeping up with demand. This is a good problem to have, of course, as it is reflected in rising sale prices of homes, but it also means that people interested in flipping or rehabilitating properties for sale need to act quickly in order to take advantage of the situation, and exploit the growth and demand while it’s still there.
Get Your Loan In Order
If you were one of those businessmen that was contemplating getting a hard money loan for your project, now is a good time. If you come to the right company, such as Hard Money Lender NDLS Corp, we can process your application and get a decision to you very quickly. Many different parts of the country are enjoying growth in the real estate sector, with states like New Jersey enjoying 19 straight quarters of price increases to property. Meanwhile, states like Philadelphia are a golden opportunity for landlords in the business sector, as there is a severe lack of office block space, so anyone that moves into this area has a commanding advantage on prices.
If you’re looking to become a landlord in a residential or commercial area, or simply want to finally go ahead with that rehabilitation project, or want to move faster on flipping that property for sale, the summer of 2016 is a good time. Get started on your loan today and get your project moving.