Real estate prices are continually changing.
By and large, home values appreciate in the long term.
But, of course, in real estate there are no guarantees.
When your house appreciates you have a larger asset to borrow against, and you'll see a bigger profit when you sell.
But how can you be sure what you're buying presently will appreciate over time? Property values in DuBois go up and down for many different reasons.
The most important element is that you choose an agent in DuBois who can identify the factors that influence local prices.
Many think that the economy is the greatest factor affecting real estate appreciation.
Obviously,
there are some issues on a national level that change your house's value: unemployment, interest rates, the stock market, and more.
But the most influential things that determine your home's value are particular to the local DuBois economy and housing market.
Location in a community - Being close to schools, work and amenities like shopping, restaurants and entertainment is a big deal to a lot of us and will greatly influence home values.
So when it comes to holding their value, these communities often appreciate much more reliably than areas lacking key features.
Recent sales - Your REALTOR® should give you stats on the recent real estate sales in the neighborhoods that you're interested in. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the neighborhood believed to be desirable because of its location or affordability? Have property prices gone up or down over the past 5-10 years?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a fair combination of business in an area, or does it rely upon just one industry? Is the blend of commercial and residential zoning changing?
These items play a part.