Fluctuating home prices in Del Mar, California: What causes this?
Home prices are continually changing.
Property values appreciate in the long term normally.
But, of course, in real estate there is always a certain amount of risk.
When your home appreciates you have a more valuable asset to borrow against, and you make a greater profit when you sell.
There are various reasons why property values in Del Mar shift. So, how do you know what you're purchasing right now will appreciate over time?
The most important aspect is that you go with a REALTOR® in Del Mar who understands the factors that influence local prices.
What is the major factor impacting real estate appreciation? Many believe that it's the economy.
It goes without saying that
interest rates, unemployment, job growth, government programs and a lot of other national factors have a noticeable effect on your property's value.
However, your property's value and the aspects that play the biggest role in its appreciation are particular to the local Del Mar economy and housing market.
Location in a community - Most people want homes in the districts with the most accommodating features, such as our schools and jobs.
So when it comes to keeping their value, these areas usually appreciate the best.
Real estate sales trends - How long are homes up for sale before closing? What was the selling price versus the listing price? Some information can often 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.
Appreciation history - Have home prices gone up or down over the past 5 to 10 years? Is the neighborhood thought of as desirable because of its location or affordability?
Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a nice blend of jobs in an area, or does it count on just one industry?
These items play a part.
Learning the factors that affect your home's price is important.
Visit this link
for an assessment of your property's value.
Call me at (858) 245-2854 or e-mail me
if you have any questions at all. I'd love to hear from you.
Looking to Sell?
Are you looking to sell your house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.