Over time, the value of a piece of real estate will go up and down.
Over a long enough period of time, house values , in most cases, go up.
But, in real estate there are no "sure things".
When your home appreciates you have a bigger asset to borrow against, and you'll generate a larger profit when you sell.
There are many different reasons why property values in DuBois rise and fall. So, how can you be sure what you're investing in this year will appreciate over time?
Choosing a real estate agent in DuBois who is familiar with the factors that affect local prices is the most important part.
The economy is assumed to be the most important factor affecting real estate appreciation.
It goes without saying that
there are a handful of factors on a national level that affect your property's value: unemployment, interest rates, the stock market, and more.
However, your home's value and the components that play the most significant role in its appreciation depend on the local DuBois economy and housing market.
Access to services - Convenient access to schools, work and amenities like shopping, restaurants and entertainment is a priority to a lot of us and will greatly influence home values.
So when it comes to keeping their value, these communities often appreciate the best.
Real estate sales trends - What's the time on market? What was the final sales amount compared to the asking price? A lot of data can often be obtained from public records, but a good agent with a login to the local MLS will often provide a more complete picture.
Appreciation history - Have house prices gone up or down over the past 5 to 10 years? Is the area believed to be desirable because of its location or affordability?
Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a good blend of jobs in an area, or does it rely upon just one industry?
All these play a role.