One organization has chosen the top 10 United States cities that have the best housing markets for 2018. Stockton, California comes in at number 4 on the list.
If you are looking where to purchase a home, understand that it is quite possibly one of the biggest investment in your life. You do not want to put your money into a home market that is going South. That can cause a very big setback financially.
It’s important to look at the hot markets that you can afford to get into. Second, it’s important to get into a home market in which housing prices have a strong chance to rise.
One such market is Stockton, California.
Stockton is known for high crime which does not give it a good reputation. And it’s not recognized as a city of power economically. But it is now coming to be a place to live because of what it has to offer to home buyers. In Stockton proper, the median Stockton cost of $285,000 is what it takes to get a home. This is less than 25% of the cost of a San Francisco home, which is around 90 minutes of a drive to get there from Stockton.
To get a home in San Francisco you need to spend a median price of 1.3 million dollars. Compare this to $250,000 for a fixer-upper four bed, two bath home in Stockton. Bay area people are coming to Stockton to take advantage of opportunities like this.
When it comes to commercial real estate, 2.06 acres of real estate was recently bought right near the campus of Kaiser Permanente. $1,250,000 was the purchase price. It will be a newly constructed outpatient clinic of 13,600 square feet. But first there will be the demolishment of a 7,500 square feet building.
There has been a big need for an outpatient clinic in the area. It took 15 months to close this deal.
There is the expectation that construction will begin this Summer and will be completed in a lesser time than a year.