Appreciating property values in Santa Barbara
Over time, the value of a piece of real estate will fluctuate up and down.
Over a long enough period of time, property values usually go up.
But, of course, there is always a certain amount of risk in real estate.
When your house appreciates you have more resources to borrow against, and you'll see a better profit when you sell.
There are various reasons why property values in Santa Barbara move up and down. So, how will you know what you're investing in presently will appreciate over time?
It's critical that you choose an agent in Santa Barbara who knows the factors that drive local prices.
Many assume that the economy is the most important factor affecting real estate appreciation.
there are a handful of factors on a national level that adjust your home's value: unemployment, interest rates, business growth, and more.
But the most important issues that determine your home's value depend on the local Santa Barbara economy and residential market.
Access to services - Proximity to jobs and schools also have a significant effect on most home buyers' decisions.
So when it comes to holding their value, these regions consistently appreciate the best.
The latest home sales - How fast are homes selling? What was the selling price versus the listing price? Some information can often be retrieved from public records, but a good agent with a login to the local MLS will usually be able to provide a more complete picture.
Appreciation history - Have home prices risen or declined over the last 5-10 years? Is the neighborhood considered desirable because of its location or affordability?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a good mix of jobs in an area, or does it depend on just one industry?
All these play a part.
It's wise to understand the factors that influence your home's worth.
Visit this link
for an assessment of your house's value.
Have any questions? Please feel free to call me at 805-899-1100 or e-mail me