Understanding Dana Point property appreciation
Over time, the value of a house will fluctuate up and down.
Usually, home values appreciate in the long term.
But, in real estate there is always a certain amount of risk.
When your house appreciates you have a more valuable asset to borrow against, and you'll generate a better profit when you sell.
Property values in Dana Point go up and down for various reasons, so how will you be sure what you're buying presently won't depreciate the day after you close?
Choosing a REALTOR® in Dana Point who can identify the factors that affect local prices is the most important element to consider.
The economy is assumed to be the number one factor impacting real estate appreciation.
there are numerous factors on a national level that change your home's value: unemployment, mortgage rates, inflation, and more.
But the most influential things that determine your home's value are specific to the local Dana Point economy and housing market.
Location in a community - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is a big deal to many families and will greatly influence home values.
So these communities generally appreciate, or hold their value consistently, year to year.
Recent sales - Your real estate agent should provide you with facts and figures on the recent home sales in the areas that you're asking about. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have house prices risen or declined over the last 5-10 years? Is the neighborhood believed to be desirable because of its location or affordability?
Local economy - Is there a nice blend of business in an area, or does it count on just one industry? Have companies moved into or away from an area? Are local companies hiring?
These items play a role.
Identifying the factors that influence your property's price is important.
to receive an estimation of your house's value.
Have any questions? Please feel free to call me at (949) 487-3377 or e-mail me