Over time, the value of a property will go up and down.
Over a long enough period of time, house values normally go up.
But there are no "sure things" in real estate.
When your house appreciates you have a bigger asset to borrow against, and you'll produce a larger profit when you sell.
There are various reasons why property values in Arcadia move up and down. So, how do you know what you're buying now will appreciate over time?
Choosing a real estate agent in Arcadia who understands the factors that drive local prices is the most important aspect.
Many are convinced that the economy is the most critical factor impacting real estate appreciation.
there are several issues on a national level that alter your house's value: unemployment, mortgage rates, consumer confidence, and more.
However, your house's value and the features that play the most significant role in its appreciation depend on the local Arcadia economy and housing market.
Access to services - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is a priority to many families and will greatly influence home values.
So when it comes to holding their value, these regions often appreciate better than others.
The latest home sales - You should receive facts and figures on the recent real estate sales in the regions that you're asking about from your agent. You'll want to know data like time on market and listing price as opposed to selling price.
The appreciation history - Is the area believed to be desirable because of its location or affordability? Have property prices increased or decreased over the past 5 to 10 years?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a good mixture of job types in an area, or does it rely upon just one industry? Is the mix of commercial and residential development changing?
Each of these things plays a role.