Understanding DuBois property appreciationHome values are constantly moving up and down. Over a long enough period of time, house values almost always appreciate. But there are no guarantees in real estate.
When your home appreciates you have a bigger asset to borrow against, and you'll realize a greater profit when you sell. Property values in DuBois vary for numerous reasons, so how can you be sure what you're buying presently won't depreciate the day after you close? Choosing a REALTOR® in DuBois who knows the factors that affect local prices is the most important element.
What is the number one factor affecting real estate appreciation? Many believe that it's the economy. After all, there are a handful of factors on a national level that affect your property's value: unemployment, mortgage rates, the stock market, and more. However, your house's value and the factors that play the biggest role in its appreciation depend on the local DuBois economy and housing market.
Access to services - Proximity to schools and work also have a huge influence on almost all home buyers' decisions. So when it comes to holding their value, these areas often appreciate much more reliably than areas lacking key features.
The latest home sales - You should receive figures on the recent real estate sales in the neighborhoods that you'd like to live in from your REALTOR®. You'll need to know things like how long a house stays on the market and asking price as opposed to selling price.
Appreciation history - Have property prices gone up or down over the past 5 to 10 years? Is the community considered desirable because of its location or affordability?
Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a fair blend of job types in an area, or does it rely on just one industry? Each of these elements plays a role.
|It's wise to understand the factors that affect your property's price. Visit this link for an estimation of your home's value. Please call me at 814-375-1167 or e-mail me with any questions.|