Fluctuating home prices in DuBois, Pennsylvania: What causes this?

Over time, the worth of a house will go up and down. For the most part, house values appreciate in the long term. But, of course, in real estate there are no "sure things".

When your home appreciates you have a more valuable asset to borrow against, and you get a better profit when you sell. Property values in DuBois shift for different reasons, so how will you know what you're buying right now won't depreciate the day after you close? Choosing a REALTOR® in DuBois who understands the factors that influence local prices is the most important aspect.

The economy is believed to be the most crucial factor affecting real estate appreciation. Naturally, there are a handful of issues on a national level that impact your property's value: unemployment, interest rates, quarterly earnings reports, and more. However, your property's value and the factors that play the biggest role in its appreciation are particular to the local DuBois economy and housing market.

Let Hoffer Realty Associates help you with your first home purchase in DuBois Access to services - Proximity to schools and work also have a great effect on most home buyers' choices. So these communities typically appreciate, or carry their value consistently, year to year.

The latest home sales - You should receive figures on the recent real estate sales in the areas that you're asking about from your agent. You'll need to know figures like how long a house stays on the market and seller discounts.

Appreciation history - Have property prices risen or declined over the last 5-10 years? Is the community considered desirable because of its location or affordability?

The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a fair combination of job types in an area, or does it depend on just one industry? Is the mix of commercial and residential zoning changing? All these play a role.

It's vital to know the factors that affect your home's market price. Visit this link for an assessment of your property'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.