What Drives Property Values to Move Up and Down?
Over time, the worth of a house will fluctuate up and down. Property values appreciate in the long term in most cases. But there is always a certain amount of risk in real estate.
When your home appreciates you have a larger asset to borrow against, and you'll generate a better profit when you sell. There is a variety of reasons why property values in Boulder go up and down. So, how can you be sure what you're investing in today will appreciate over time? The most important aspect to consider is that you pick a real estate agent in Boulder who is familiar with the factors that influence local prices.
A lot of people are convinced that the economy is the greatest factor impacting real estate appreciation. Clearly, there are quite a few issues on a national level that affect your house's value: unemployment, interest rates, inflation, and more. But the most important things that determine your property's value depend on the local economy and residential market.
Location in a community - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is a priority to many families and will greatly influence home values. So when it comes to keeping their value, these communities often appreciate better than others.
Prior home sales - What's the time on market? Are sellers needing to discount much or offer concessions Some information can often be obtained from public records, but a good agent with access to the local MLS will often provide a more complete picture.
The appreciation history - Is the neighborhood thought of as desirable because of its location or affordability? Have home prices gone up or down over the past 5 to 10 years?
The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a nice mixture of jobs in an area, or does it rely upon just one industry? Is the blend of commercial and residential development changing? These items play a part.
Learning the factors that influence your house's financial worth is important. Click here
to receive an evaluation of your house's value. Call me at 303-859-1722 or e-mail me
if you have any questions at all. I'd love to hear from you.