Over time, the value of a property will go up and down.
Home values appreciate in the long term by and large.
But there are no "sure things" in real estate.
When your house appreciates you have a more valuable asset to borrow against, and you'll see a greater profit when you sell.
But how can you be sure what you're buying right now will appreciate over time? Property values in DuBois move up and down for many different reasons.
It's critical that you select a real estate agent in DuBois who recognizes the factors that influence local prices.
Many are convinced that the economy is the greatest factor impacting real estate appreciation.
there are quite a few factors on a national level that adjust your home's value: unemployment, interest rates, inflation, and more.
But the most significant factors that decide your home's value depend on the local DuBois economy and housing market.
Location in a community - Proximity to jobs and schools also have a huge impact on many home buyers' decisions.
So when it comes to holding their value, these communities typically appreciate much more reliably than areas lacking key features.
Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? What was the selling price versus the listing price? Some information can often be obtained from public records, but a good agent with a login to the local MLS will usually provide a more complete picture.
Appreciation history - Have house prices gone up or down over the last 5 to 10 years? Is the community considered desirable because of its location or affordability?
The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a good mixture of business in an area, or does it rely upon just one industry? Is the blend of commercial and residential development changing?
These items play a part.