DuBois home prices: Need some help understanding why they appreciate?

Real estate prices are constantly moving up and down. Home values appreciate in the long term typically. But, of course, there are no "sure things" in real estate.

When your home appreciates you have more resources to borrow against, and you make a higher profit when you sell. There are many different reasons why property values in DuBois rise and fall. So, how do you know what you're purchasing now will appreciate over time? It's critical that you select a real estate agent in DuBois who recognizes the factors that drive local prices.

The economy is believed to be the greatest factor impacting real estate appreciation. Naturally, interest rates, employment, job growth, government programs and numerous other national determinants have a measurable influence on your home's value. But the most significant factors that decide your home's value depend on the local DuBois economy and residential market.

Let Hoffer Realty Associates help you with your first home purchase in DuBois Location in a community - Proximity to jobs and schools also have a major effect on almost all home buyers' choices. So these areas usually appreciate, or retain their value, best.

Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? What was the final sales amount compared to the asking price? A lot of data can often be retrieved 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 community considered desirable because of its location or affordability? Have home prices risen or declined over the last 5-10 years?

Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a nice combination of work in an area, or does it depend on just one industry? Each of these factors plays a part.

It's wise to know the factors that affect your home's value. Click here to receive an assessment of your house's value. Call me at (814) 371-2100 or e-mail me if you have any questions at all. I'd love to hear from you.