Oregon is a major hotspot for investment property at the moment. People are leaving California in droves because of high real estate prices in the major metropolitan areas like San Francisco and even Sacramento. They are looking for somewhere with a better climate that still has that west coast feel, and many of them settle in Oregon. The state has some great cities that bring most of the population growth including Portland and Eugene. If you’ve been thinking of investing in a place like Oregon, now is definitely the time because prices are currently low, but they are going to go up as Californians who are used to expensive prices and have lots of disposable income are coming with all of their dough to live and work.
Oregonians enjoy a wonderful quality of life. There is no severe drought, as there is in California right now, so agricultural activities can still continue as planned. There are tons of wineries in the state and the state is also one of the leading producers of Hazelnuts in the US. Their moist climate is also well known for growing cranberries, which must be grown in bogs, so there is definitely no lack of water here. There are beautiful state parks for residents to visit, as well as Crater Lake National Park which features an amazing lake in which water has filled in a huge crater.
Oregon is full of a vibrant tech worker community, and many tech companies that employ a large number of people in the state, which is why Oregon investment properties are such a good idea. Intel, a leading manufacturer of computer chips, has four facilities throughout the state. Oregon is also home to an area known as the Silicon Forest, which is outside of Portland and is where many companies have offices. Oregon has many big data storage companies and facilities because of the cooler climate. Climate control is very important for large data stores and with cooler temperatures, companies can save a lot of money by being located in Oregon, rather than hot California.
Other companies also find a happy home in Oregon, bringing workers to their headquarters. Nike, Adidas and Harry and David are based in the state. As you can see, Oregon is a hot place to be for many industries right now, making it the perfect place for an investment property.
Oregon is a desirable state because it is one of only 5 states to have absolutely no sales tax. Many people who live in nearby California or Washington come to the state for day trips just to get some shopping done, so retail stores often do quite well here. Perhaps this is why the population has grown about 5% in the past few years, according to the US Census Bureau! Oregon is a great choice for an investment property. Retail spaces as well as residential spaces see success in this great state, and as the population of the state grows, the time for the best opportunities here will certainly come to an end. Get into Oregon now while the time is right!