Real estate is in a state of flux. Depending on the area, real estate prices has seen significant increases. Stanislaus County was one of the worst hit counties during the recession. Our county was high on the list of number of foreclosures. This is not a list we wanted to be on but we were there nonetheless. Many lost their homes. Some became strategic defaulters while others elected to hold on to their properties in hopes of a brighter future. During this bleak time, many investors took advantage of the low prices to purchase income properties. This was a great strategy because investors made money on the income from the rentals as well as saw an increase in their net worth as property values appreciated. The economy has finally turned around and real estate prices are appreciating. This is great news for not only home owners but also investors. Investors are looking to sell their properties to either upgrade to a bigger investment or to divest. In the recent months New Bridge Management has seen a number of the properties it manages get listed for sale. Tenants that occupy the property are notified and in some cases are being asked to vacate the property. Some of the homes that were rentals are being purchased by individuals who intend to occupy the property. This is creating a shortage in the desired North Turlock rental market. But relief is on the way.
If you have been in Turlock recently, you would certainly notice the new construction underway on the corner of Monte Vista Ave/ University Drive and Del’s Lane. These are row homes. This means the units although appear as attached are actually detached single family homes. The units were constructed with exterior walls with gaps in between that have been covered. There is a clear demarcation from wall to wall and ground to roof. The new Avalon homes will be available for rent only. These homes will have three distinct floor plans that will vary from 1600 to 1900 square feet. The homes will feature 3 bedrooms, 2.5 baths and two car garages. All units will have tile flooring, granite counter top and stainless steel appliances in the kitchen. New Bridge Management is proud to announce the offering of these 20 new homes which will become available for rent in July.
New Bridge Management is a full service property management company that manages the real estate portfolios of investors. The managed portfolios vary in size from single units to large multi-family units. Call New Bridge Management at 209-668-6700 to schedule a time to see these properties and to inquire about our services for your investment properties.