Over time, the worth of a piece of real estate will fluctuate up and down.
Over a long enough period of time, property values , in most cases, go up.
But, in real estate there is always a certain amount of risk.
When your home appreciates you have a more valuable asset to borrow against, and you'll realize a greater profit when you sell.
But how do you know what you're buying right now will appreciate over time? Property values in BAKERSFIELD go up and down for many different reasons.
Choosing a real estate agent in BAKERSFIELD who is familiar with the factors that influence local prices is the most important part.
The economy is believed to be the number one factor affecting real estate appreciation.
mortgage rates, employment, job growth, government programs and numerous other national determinants have a definite impact on your home's value.
But the most influential factors that decide your home's value depend on the local BAKERSFIELD economy and housing market.
Access to services - Proximity to schools and work also have a major effect on all home buyers' decisions.
So these regions generally appreciate, or keep their value, best.
Real estate sales trends - How long do homes typically stay on the market? What was the final sales amount versus the asking price? A lot of data can often be retrieved from public records, but a good agent with a login to the local MLS will often be able to provide a more complete picture.
Appreciation history - Have property prices gone up or down over the past 5-10 years? Is the area believed to be desirable because of its location or affordability?
The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a nice mixture of business in an area, or does it count on just one industry? Is the blend of commercial and residential development changing?
These items play a part.
Want to know if a home is still on the market, or if the price has changed? We can help. Simply fill out the information below and with no obligation to you we'll get back to you with your requested information. We guarantee your privacy.