In California, real estate is continuing to boom. As a result, investors, particularly those in Southern California, are trying to take advantage of it. Areas where residential real estate is especially doing well include San Diego County, Orange County and Ventura County.
Residential developments are thriving in San Diego thanks in part to the city's biotech boom. The goal is for these developments to accommodate the growing housing demand of the workforce in this part of California. A whopping 7,000 apartments units are expected to be added to the city's market in 2017 -- much higher than the 4,000 that were added last year. Above-average growth is being witnessed in residential real estate, and this growth is expected to continue the remainder of this year.
In Orange County, the recent small increase in the interest rate actually motivated several buyers to finally make purchases of single family homes there before the interest rates go up even more. In addition, in Ventura County, a 91-home project is already drawing fast sales. In this project, houses will be valued at $500,000 and up for about 1,600 square feet or more.
With the real estate market being strong throughout the state of California, it makes sense to jump in and take advantage of opportunities to both selling and buying opportunities. This is true for typical homebuyers and home sellers in the suburbs as well as those investing in residential real estate developments such as apartment complexes. A California attorney can help interested buyers and sellers to navigate the complex aspects of any real estate transaction.
Source: therealdeal.com, "LA County shares the market love", Kavita Daswani, May 9, 2017