Over time, the value of a property will fluctuate up and down.
Typically, home values appreciate in the long term.
But, in real estate there are no guarantees.
When your house appreciates you have a bigger asset to borrow against, and you'll generate a bigger profit when you sell.
Property values in Arcadia change for numerous reasons, so how will you know what you're purchasing right now won't depreciate the day after you close?
Choosing a REALTOR® in Arcadia who knows the factors that influence local prices is the most important element to consider.
The economy is assumed to be the biggest factor impacting real estate appreciation.
mortgage rates, employment, job growth, government programs and numerous other national factors have a definite influence on your house's worth.
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.
Location in a community - Most people want homes in the districts with the most convenient features, such as our work and schools.
So these areas often appreciate, or retain their value consistently, year to year.
Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? Are sellers having to discount much or offer concessions Some information can often 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 area considered desirable because of its location or affordability? Have property prices gone up or down over the past 5-10 years?
The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a fair combination of jobs in an area, or does it count on just one industry? Is the blend of commercial and residential zoning changing?
These items play a part.