Real estate values are forever in flux.
House values appreciate in the long term by and large.
But, of course, in real estate there are no guarantees.
When your property appreciates you have more resources to borrow against, and you get a greater profit when you sell.
But how do you know what you're purchasing today will appreciate over time? Property values in Rolling Hills Estates move up and down for many different reasons.
It's imperative that you go with a REALTOR® in Rolling Hills Estates who is familiar with the factors that drive local prices.
The economy is assumed to be the biggest factor impacting real estate appreciation.
mortgage rates, unemployment, business growth, government programs and many other national factors have a definite influence on your home's worth.
However, your house's value and the things that play the most significant role in its appreciation depend on the local Rolling Hills Estates economy and housing market.
Access to services - Most people want homes in the districts with the most convenient features, such as our schools and work.
So when it comes to holding their value, these regions often appreciate much more reliably than areas lacking key features.
Trends in home sales - Are homes on the market 30, 60, or 90 days or even longer? Are sellers needing to discount much or offer concessions A lot of data can be obtained from public records, but a good agent with access to the local MLS will usually be able to provide a more complete picture.
The appreciation history - Is the community considered desirable because of its location or affordability? Have home prices increased or decreased over the past 5 to 10 years?
Local economy - Is there a fair mixture of jobs in an area, or does it rely on just one industry? Have businesses moved into or away from an area? Are local businesses hiring?
These items play a role.