Home Search For Homes News

Understanding property appreciation in Glendale

Over time, the value of a piece of real estate will go up and down. Over a long enough period of time, house values , for the most part, 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'll produce a better profit when you sell. Property values in Glendale move up and down for many different reasons, so how will you be sure what you're purchasing right now won't depreciate the day after you close? The most important aspect is that you go with a REALTOR® in Glendale who knows the factors that influence local prices.

A lot of people think that the economy is the most important factor impacting real estate appreciation. Clearly, there are numerous factors on a national level that influence your property's value: unemployment, interest rates, quarterly earnings reports, and more. However, your property's value and the things that play the most significant role in its appreciation are particular to the local Glendale economy and housing market.

Let Arizona Premier Realty Homes & Land LLC. help you with your first home purchase in Glendale Access to services - Proximity to jobs and schools also have a significant effect on most home buyers' choices. So when it comes to retaining their value, these areas typically appreciate better than others.

Real estate sales trends - How fast are houses selling? What was the final sales amount compared to the listing price? Some information can often be obtained from public records, but a good agent with access to the local MLS will often be able to provide a more complete picture.

The appreciation history - Is the community thought to be desirable because of its location or affordability? Have house prices increased or decreased over the past 5 to 10 years?

Local economy - Is there a good mix of work in an area, or does it rely upon just one industry? Have businesses moved into or away from an area? Are local businesses hiring? All these play a role.

Identifying the factors that play into your house's value is important. Visit this link for an assessment of your house's value. Call me at 623-594-7680 or e-mail me if you have any questions at all. I'd love to hear from you.