Finance Your Next Real Estate Investment with a Washington Hard Money Loan
It’s a turbulent time with a health crisis sweeping the globe and lives and businesses disrupted.
Economic ramifications in the U.S. are already clear; it will be an effort to recover from a battered stock market and widespread job loss.
Indicators show, however, that housing is an area of the economy that should ride out the storm.
Thanks to the Pacific Northwest’s healthy housing picture going into the current situation, Washington State real estate, in particular, is well-positioned to come back strong.
How Healthy is Real Estate in Today’s Health Crisis?
A possible recession will not impact housing today in the same way it did in 2008. Market conditions are far different. Low inventory and high demand, stricter mortgage requirements and higher home values provide a cushion that was lacking when the housing bubble burst a decade ago.
“There’s no dysfunction in the banking system,” says Danielle Hale, Chief Economist at Realtor.com. “We don’t have many households who are overleveraged with their mortgage payments and are potentially in trouble.”
Home values have historically appreciated as much as over 6% in three of the past five recessions. Factors that contributed to housing values sinking by almost 20% in the recession of 2008 were unique to the real estate industry.
It’s smart to be aware that consumer and stock market concerns could stagnate construction and sales, and job losses may impact foreclosure rates. However, housing is not a driver in the current health and economic crisis, and on a local level, the Pacific Northwest housing market may well prove resilient.
A Washington Private Money Loan is Fast and Simple
We’re here to help in times of difficulty. Our Gregory M. Russell hard money loan service is available to Washington real estate investors regardless of credit or employment history. Our experienced team of lenders will work with you to meet your goals when traditional lenders say no. If you have available equity, call us at 1-888-477-0444 to learn more about our private money loans. Or complete our quick and easy online form to request a hard money loan today.