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Richland Hard Money Lenders

 

Richland Hard Money Loans

Intrust Funding is a Richland money lender for residential providing private money loans to investors in Benton County. Acquire your next property, renovate your next investment, or cash-out refi your last loan today. With funding in 48 hours, no inspections, no appraisals, and a simple 1% per month interest rate, Intrust Funding is real estate investing simplified.

Richland, part of the Tri-Cities metropolitan area, is a thriving city with a population of over 58,000. Home to the Pacific Northwest National Laboratory and a part of the Hanford nuclear site, Richland’s economy is underpinned by scientific research and technology. This robust economy, combined with its high-performing schools and recreational amenities, makes Richland a prime location for real estate investment. The city’s range of neighborhoods, from riverfront properties to quiet suburban areas, presents a diverse array of investment opportunities.

 

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A Real Estate Investor’s Quick Guide to Richland

Market Trends & Home Values
Market Trends & Home Values

Market Trends & Home Values

In October 2023, Richland’s home prices decreased by 3.4% year-over-year, with a median sale price of $459K. Average days on the market increased slightly, and the number of homes sold decreased compared to the previous year. However, the median listing home price in November 2023 was $555.5K, showing no significant change from the previous year. The median list price as of October 31, 2023, was $508,017, indicating a somewhat competitive market.

Market Dynamics
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Market Dynamics

Market Dynamics

The Richland real estate market has witnessed an average sold price increase from September to October 2023. The inventory of active listings also increased, signifying a more balanced market. The average days on market have remained stable, reflecting the dynamic pace of real estate activities in the area. There was an increase in homes in the process of being sold, indicating a competitive environment.

Inventory & Sales
Inventory & Sales

Inventory & Sales

The Richland housing market is somewhat competitive, with the median sale price of a home reaching $518K last month, up 20.5% since last year. The median sale price per square foot was $237. In November 2023, homes in Richland sold after an average of 64 days on the market, and there was an increase in the number of homes sold compared to last year.

Population Movement
Population Movement

Population Movement

From September to November 2023, 56% of Richland homebuyers searched to move out of Richland, while 44% looked to stay within the metropolitan area. The most popular destinations among Richland homebuyers were Spokane, Yakima, and Phoenix.

Environmental Risks
Environmental Risks

Environmental Risks

Washington State, including Richland, is experiencing the effects of climate change. Recent issues include early snowpack melting leading to drought advisories, wildfires, and conditions that are warmer and drier than typical. The National Climate Assessment highlights the urgency of addressing climate change and its impact on ecosystems, human health, and infrastructure.

Infrastructure & Accessibility
Infrastructure & Accessibility

Infrastructure & Accessibility

The City of Richland engaged in a strategic planning process from June 2022 through July 2023 for the years 2024-2026. The plan focuses on high-performance government, financial sustainability, focused development, quality of life, and an engaged workforce.

Future Projections
Future Projections

Future Projections

According to Walletinvestor.com, the median price of an average house in Richland was $457,867 as of December 22, 2023. A long-term increase is expected, with the predicted price of an average home in Richland being $613,010 by December 31, 2028. This suggests a potential profit of +33.88% for a 5-year investment.

Investment Returns
Investment Returns

Investment Returns

Richland’s real estate market has shown impressive appreciation rates over the past decade. From 2013 to 2023, real estate in Richland appreciated by 119.57%, averaging an annual appreciation rate of 8.18%. This places Richland in the top 20% nationwide for real estate appreciation, highlighting its strength as a long-term investment. However, in the past year, Richland’s appreciation rate has slowed to 2.96%, which is below the national average. Despite this, compared to other cities and towns in Washington, Richland’s annual appreciation rate is higher than 90% of them​​​​.

A Real Estate Guide to Richland

Richland, WA
Benton County
Geography
Employment
Transportation

Richland, WA

Richland is a place where you can stroll along the Columbia River, enjoy an outdoor concert or find an imaginative playground for young and old alike.

Enjoy visiting a community that offers fishing, boating, and water skiing opportunities as well as antique shops and wineries. Richland has a rich cultural community and visitors will enjoy taking in performances from symphony, to ballet, to community theater troupes. The city of Richland is home to over 58,000 residents and hosts a medieval renaissance fair, folk-life and music festivals, art shows, and an annual classic car and street rod show and other events.


Benton County

Benton County is a county in the south-central portion of the U.S. state of Washington. As of the 2010 census, its population was 175,177. The county seat is Prosser, and its largest city is Kennewick. The Columbia River demarcates the county’s north, south, and east boundaries.


Geography

Three major rivers, the Columbia, Snake, and Yakima Rivers, dominate the geography of the region. Horse Heaven Hills, which lie southwest of the urban area, provide the community with its southern horizon. It is this part of the state where the rivers converge and form Lake Wallula upstream from McNary Dam on the Columbia River. The rivers provide the Tri-Cities with abundant water for irrigation and energy, barge transportation, and is a coveted recreational resource. A fun fact about the area is that Rattlesnake Mountain, at over 3,000 feet, is considered the tallest, tree-less mountain in the Northern Hemisphere.


Employment

Richland has an unemployment rate of 5.3%. The US average is 6.0%.

Richland has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 39.6%, which is higher than the US average of 33.5%.


Transportation

Richland is served by Richland Airport, located in the city, as well as the Tri-Cities Airport, located in nearby Pasco. Both have only domestic flights. Also in Pasco is an Amtrak station, where the Portland-Chicago Empire Builder makes a stop.

Ben Franklin Transit provides bus transportation within Richland and the Tri-Cities area.


Richland, WA

Richland is a place where you can stroll along the Columbia River, enjoy an outdoor concert or find an imaginative playground for young and old alike.

Enjoy visiting a community that offers fishing, boating, and water skiing opportunities as well as antique shops and wineries. Richland has a rich cultural community and visitors will enjoy taking in performances from symphony, to ballet, to community theater troupes. The city of Richland is home to over 58,000 residents and hosts a medieval renaissance fair, folk-life and music festivals, art shows, and an annual classic car and street rod show and other events.

Benton County

Benton County is a county in the south-central portion of the U.S. state of Washington. As of the 2010 census, its population was 175,177. The county seat is Prosser, and its largest city is Kennewick. The Columbia River demarcates the county’s north, south, and east boundaries.

Geography

Three major rivers, the Columbia, Snake, and Yakima Rivers, dominate the geography of the region. Horse Heaven Hills, which lie southwest of the urban area, provide the community with its southern horizon. It is this part of the state where the rivers converge and form Lake Wallula upstream from McNary Dam on the Columbia River. The rivers provide the Tri-Cities with abundant water for irrigation and energy, barge transportation, and is a coveted recreational resource. A fun fact about the area is that Rattlesnake Mountain, at over 3,000 feet, is considered the tallest, tree-less mountain in the Northern Hemisphere.

Employment

Richland has an unemployment rate of 5.3%. The US average is 6.0%.

Richland has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 39.6%, which is higher than the US average of 33.5%.

Transportation

Richland is served by Richland Airport, located in the city, as well as the Tri-Cities Airport, located in nearby Pasco. Both have only domestic flights. Also in Pasco is an Amtrak station, where the Portland-Chicago Empire Builder makes a stop.

Ben Franklin Transit provides bus transportation within Richland and the Tri-Cities area.

Hard Money Loan Scenarios Richland, WA

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