Real estate prices are forever in flux.
Home values appreciate in the long term typically.
But, of course, in real estate there is always a certain amount of risk.
When your house appreciates you have a bigger asset to borrow against, and you'll see a better profit when you sell.
Property values in Arcadia waver for a variety of reasons, so how do you know what you're buying now won't depreciate the day after you close?
The most important element to consider is that you select a real estate agent in Arcadia who recognizes the factors that drive local prices.
Many assume that the economy is the top factor affecting real estate appreciation.
mortgage rates, unemployment, business growth, government programs and a handful of other national determinants have a definite impact on your property's value.
However, your property's value and the components that play the most significant role in its appreciation are particular to the local Arcadia economy and housing market.
Access to services - Being close to schools, employment and amenities like shopping, restaurants and entertainment is a big deal to a lot of families and will greatly influence home values.
So when it comes to keeping their value, these areas often appreciate the best.
Trends in home sales - Are homes on the market 30, 60, or 90 days or even longer? Are sellers having 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 often be able to provide a more complete picture.
The appreciation history - Is the neighborhood thought of as desirable because of its location or affordability? Have house prices risen or declined over the past 5 to 10 years?
The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a good combination of work in an area, or does it depend on just one industry? Is the blend of commercial and residential development changing?
Each of these items plays a part.