Time to buy in California’s Central Valley?
As John D. Rockefeller said, “You make the most money if you buy when blood is running in the street!”
This colorful quote nails the current investing environment in the Central Valley. Stockton has the dubious honor of being the foreclosure capital of the U.S. Homes and multi-unit buildings are selling way below replacement cost. And the largest wave of foreclosures is expected to hit in Q4 of this year, at a time when banks are swamped with homes taken back through foreclosure.
But is it time to buy?
Since five central valley cities are listed in the top 10 of fastest growing in the nation. Interest rates remain at historic lows. We believe it is.