Home values are forever in flux.
Over a long enough period of time, home values normally appreciate.
But there is always a certain amount of risk in real estate, of course.
When your house appreciates you have more equity to borrow against, and you'll realize a bigger profit when you sell.
There is a variety of reasons why property values in DuBois waver. So, how will you be sure what you're buying presently will appreciate over time?
The most important factor is that you choose a real estate agent in DuBois who understands the factors that influence local prices.
The economy is believed to be the top factor impacting real estate appreciation.
It goes without saying that
interest rates, employment, job growth, government programs and quite a few other national determinants have a definite impact on your home's worth.
However, your property's value and the components that play the most significant role in its appreciation are particular to the local DuBois economy and housing market.
Location in a community - Proximity to schools, jobs, and amenities also have a major influence on all home buyers' choices.
So when it comes to retaining their value, these regions often appreciate much more reliably than areas lacking key features.
Prior home sales - How long are homes on the market? Are sellers having to discount much? Some information can often be retrieved from public records, but a good agent with access to the local MLS will usually provide a more complete picture.
Appreciation history - Have home prices increased or decreased over the last 5-10 years? Is the area considered desirable because of its location or affordability?
Local economy - Is there a good mix of jobs in an area, or does it rely on just one industry? Have companies moved into or away from an area? Are local companies hiring?
These items play a part.