Over time, the worth of a piece of real estate will go up and down.
Usually, house values appreciate in the long term.
But, in real estate there are no guarantees.
When your home appreciates you have more equity to borrow against, and you'll generate a better profit when you sell.
Property values in Fresno go up and down for a variety of reasons, so how will you be sure what you're purchasing presently won't depreciate the day after you close?
Choosing a REALTOR® in Fresno who recognizes the factors that drive local prices is the most important element to consider.
A lot of people guess that the economy is the most crucial factor affecting real estate appreciation.
It goes without saying that
mortgage rates, unemployment, business growth, government programs and quite a few other national factors have a noticeable influence on your house's worth.
However, your house's value and the components that play the most significant role in its appreciation are specific to the local Fresno economy and housing market.
Access to services - Many home buyers prefer to live in regions with the most helpful factors for families to do well, such as a close proximity to schools and work.
So those areas usually appreciate, or retain their value, best.
The latest home sales - You should receive stats on the recent real estate sales in the districts that you're interested in from your real estate agent. You'll need to know things like how long a house stays on the market and asking price versus selling price.
The appreciation history - Is the area considered desirable because of its location or affordability? Have home prices risen or declined over the last 5 to 10 years?
Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a nice mix of work in an area, or does it count on just one industry?
Each of these elements plays a part.
Are you looking to sell your house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.