Property values are forever in flux.
Over a long enough period of time, house values generally go up.
But there is always a certain amount of risk in real estate.
When your home appreciates you have a more valuable asset to borrow against, and you'll produce a higher profit when you sell.
But how will you be sure what you're purchasing this year will appreciate over time? Property values in Rolling Hills Estates change for many different reasons.
Choosing an agent in Rolling Hills Estates who can identify the factors that affect local prices is the most important thing.
What is the biggest factor affecting real estate appreciation? Many are convinced that it's the economy.
mortgage rates, unemployment, job growth, government programs and some other national determinants have a measurable impact on your property's value.
However, your property's value and the factors that play the biggest role in its appreciation are specific to the local Rolling Hills Estates economy and housing market.
Access to services - Being close to schools, employment and amenities like shopping, restaurants and entertainment is a priority to a lot of buyers and will greatly influence home values.
So those communities typically appreciate, or hold their value consistently, year to year.
Recent sales - Your agent should provide you with information on the recent real estate sales in the districts that you'd like to live in. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the last 5 to 10 years, have house prices increased or decreased? Does location or affordability affect how desirable the community is thought of as?
Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a good mix of jobs in an area, or does it rely on just one industry?
These items play a role.