Understanding property appreciation in Valencia
Over time, the value of a house will go up and down.
Over a long enough period of time, home values , in most cases, go up.
But there are no "sure things" in real estate, of course.
When your home appreciates you have a bigger asset to borrow against, and you'll make a bigger profit when you sell.
Property values in Valencia change for different reasons, so how can you be sure what you're investing in presently won't depreciate the day after you close?
The most important thing is that you choose a REALTOR® in Valencia who is familiar with the factors that influence local prices.
A lot of people assume that the economy is the major factor affecting real estate appreciation.
there are a lot of factors on a national level that adjust your property's value: unemployment, interest rates, inflation, and more.
However, your house's value and the features that play the most significant role in its appreciation depend on the local Valencia economy and housing market.
Location in a community - Proximity to schools and work also have a huge influence on most home buyers' choices.
So when it comes to holding their value, these regions consistently appreciate better than others.
Recent home sales - You should receive reports on the recent real estate sales in the neighborhoods that you'd like to live in from your real estate agent. You'll want to analyze figures like time on market and listing price versus selling price.
History of appreciation - In the past 5 to 10 years, have property prices increased or decreased? Does location or affordability affect how desirable the area is thought of as?
The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a fair mixture of jobs in an area, or does it count on just one industry? Is the blend of commercial and residential zoning changing?
Each of these elements plays a part.
It's smart to learn about the factors that play into your property's market price.
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for an assessment of your home's value.
And if you have any questions, call me at 661-373-9973 or e-mail me