What drives property values in Valencia to move up and down?

Over time, the worth of a house will go up and down. Over a long enough period of time, home values almost always go up. But, in real estate there is always a certain amount of risk.

When your property appreciates you have a greater asset to borrow against, and you'll see a higher profit when you sell. There are numerous reasons why property values in Valencia change. So, how can you be sure what you're investing in this year will appreciate over time? It's important that you pick a real estate agent in Valencia who knows the factors that affect local prices.

The economy is assumed to be the most influential factor affecting real estate appreciation. After all, there are quite a few issues on a national level that adjust your property's value: unemployment, mortgage rates, business growth, and more. However, your property's value and the things that play the most significant role in its appreciation depend on the local Valencia economy and housing market.

Let Scenic Hills Realty help you with your first home purchase in Valencia Location in a community - Proximity to schools and work also have a significant influence on most home buyers' choices. So when it comes to retaining their value, these communities generally appreciate better than others.

Prior home sales - What's the time on market? What was the selling price versus the asking price? A lot of data can be retrieved from public records, but a good agent with a login to the local MLS will often be able to provide a more complete picture.

History of appreciation - In the past 5-10 years, have property prices gone up or down? Does location or affordability affect how desirable the community is thought to be?

Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a nice blend of work in an area, or does it rely upon just one industry? These items play a role.

It's important to be informed about the factors that influence your house's worth. Click here to receive an evaluation of your home's value. Please call me at 661-373-9973 or e-mail me with any questions.

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