Property values are continually changing.
Home values appreciate in the long term in most cases.
But, in real estate there are no "sure things".
When your property appreciates you have a greater asset to borrow against, and you'll make a higher profit when you sell.
But how will you be sure what you're purchasing today will appreciate over time? Property values in BAKERSFIELD rise and fall for various reasons.
It's important that you go with an agent in BAKERSFIELD who understands the factors that affect local prices.
What is the greatest factor affecting real estate appreciation? Many believe that it's the economy.
Obviously,
interest rates, employment, job growth, government programs and a handful of other national determinants have a measurable impact on your house's worth.
However, your home's value and the components that play the biggest role in its appreciation depend on the local BAKERSFIELD economy and housing market.
Access to services - Many home buyers choose to live in regions with the most conducive elements for families to grow, like a close proximity to schools, jobs, and work.
So those areas generally appreciate, or keep their value consistently, year to year.
Recent home sales - You should receive stats on the recent real estate sales in the neighborhoods that you're asking about from your real estate agent. You'll want to analyze data like how long a house stays on the market and seller discounts.
History of appreciation - In the last 5-10 years, have home prices increased or decreased? Does location or affordability affect how desirable the area is thought to be?
Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a good combination of jobs in an area, or does it rely on just one industry?
Each of these factors plays a role.