Understanding Glendale property appreciation

Over time, the value of a property will go up and down. Generally, property values appreciate in the long term. But there is always a certain amount of risk in real estate.

When your house appreciates you have a more valuable asset to borrow against, and you make a larger profit when you sell. Property values in Glendale waver for many different reasons, so how can you be sure what you're investing in presently won't depreciate the day after you close? Choosing a real estate agent in Glendale who knows the factors that influence local prices is the most important part.

What is the greatest factor affecting real estate appreciation? Many assume that it's the economy. Naturally, there are a lot of factors on a national level that change your home's value: unemployment, interest rates, quarterly earnings reports, and more. But the most important factors that determine your property's value are specific to the local Glendale economy and housing market.

Access to services - Many of us want to live in districts with the most helpful traits for families to succeed, like a close proximity to schools and work. So these regions usually appreciate, or keep their value, best.

Recent sales - Your real estate agent should give you information on the recent home sales in the neighborhoods that you're asking about. You'll want to know average time on market, selling versus listing price and more.

History of appreciation - In the past 5 to 10 years, have house prices increased or decreased? Does location or affordability affect how desirable the area is thought of as?

Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a nice mix of business in an area, or does it rely upon just one industry? All these play a role.