Appreciating property values in Glendale
Over time, the worth of a piece of real estate will go up and down. Property values appreciate in the long term by and large. But, in real estate there are no guarantees.
When your property appreciates you have a larger asset to borrow against, and you'll see a higher profit when you sell. There is a variety of reasons why property values in Glendale move up and down. So, how will you be sure what you're buying now will appreciate over time? Choosing a REALTOR® in Glendale who understands the factors that drive local prices is the most important aspect to consider.
Many are convinced that the economy is the most critical factor impacting real estate appreciation. It goes without saying that there are many factors on a national level that adjust your home's value: unemployment, mortgage rates, business growth, and more. However, your house's value and the aspects that play the most significant role in its appreciation are specific to the local Glendale economy and housing market.
Location in a community - Proximity to jobs and schools also have a huge influence on almost all home buyers' decisions.
So those regions usually appreciate, or retain their value consistently, year to year.
Recent sales - Your real estate agent should give you data on the recent home sales in the neighborhoods that you're interested in. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the area thought to be desirable because of its location or affordability? Have home prices increased or decreased over the last 5-10 years?
The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a nice mix of work in an area, or does it rely upon just one industry? Is the blend of commercial and residential zoning changing? These items play a role.