Understanding Glendale home pricesOver time, the value of a home will go up and down. Over a long enough period of time, property values typically go up. But there is always a certain amount of risk in real estate.
When your property appreciates you have a larger asset to borrow against, and you make a better profit when you sell. But how do you know what you're purchasing right now will appreciate over time? Property values in Glendale rise and fall for various reasons. It's imperative that you pick a REALTOR® in Glendale who is familiar with the factors that affect local prices.
What is the most critical factor impacting real estate appreciation? Many assume that it's the economy. It goes without saying that interest rates, employment, job growth, government programs and several other national factors can always change your property's worth. However, your property's value and the elements that play the most significant role in its appreciation are particular to the local Glendale economy and housing market.
Access to services - Proximity to schools, jobs, and amenities also have a significant influence on almost all home buyers' choices. So when it comes to holding their value, these communities typically appreciate better than others.
Recent home sales - You should receive data on the recent real estate sales in the areas that you're interested in from your real estate agent. You'll want to know data like time on market and asking price versus selling price.
History of appreciation - In the past 5-10 years, have house prices gone up or down? Does location or affordability affect how desirable the neighborhood is believed to be?
Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a nice combination of job types in an area, or does it rely on just one industry? These items play a part.
|It's smart to learn about the factors that influence your property's market price. Contact me today for an assessment of your home's current value. Call me at 602-818-5704 or e-mail me - TinaTsellsAZ@gmail.com|