Over time, the worth of a house will go up and down.
In most cases, house values appreciate in the long term.
But there are no guarantees in real estate.
When your house appreciates you have a more valuable asset to borrow against, and you'll create a higher profit when you sell.
Property values in Rancho Santa Margarita waver for different reasons, so how can you be sure what you're investing in this year won't depreciate the day after you close?
Choosing a REALTOR® in Rancho Santa Margarita who can identify the factors that influence local prices is the most important thing.
What is the most important factor impacting real estate appreciation? Many assume that it's the economy.
there are a handful of factors on a national level that change your property's value: unemployment, mortgage rates, the stock market, and more.
However, your house's value and the features that play the biggest role in its appreciation are particular to the local Rancho Santa Margarita economy and housing market.
Location in a community - Proximity to schools and work also have a huge impact on almost all home buyers' decisions.
So those communities consistently appreciate, or retain their value, best.
Real estate sales trends - How long are homes on the market? Are sellers having to discount much or offer concessions A lot of data can be retrieved from public records, but a good agent with a login to the local MLS will often be able to provide a more complete picture.
History of appreciation - In the last 5 to 10 years, have property prices increased or decreased? Does location or affordability affect how desirable the area is believed to be?
Local economy - Is there a good blend of jobs in an area, or does it rely upon just one industry? Have businesses moved into or away from an area? Are local companies hiring?
All these play a role.