Real estate prices are continually changing.
Over a long enough period of time, house values normally go up.
But there is always a certain amount of risk in real estate, of course.
When your property appreciates you have more resources to borrow against, and you get a bigger profit when you sell.
But how do you know what you're investing in now will appreciate over time? Property values in Rancho Santa Margarita fluctuate for a variety of reasons.
Choosing an agent in Rancho Santa Margarita who knows the factors that drive local prices is the most important factor.
A lot of people guess that the economy is the major factor impacting real estate appreciation.
It goes without saying that
interest rates, employment, job growth, government programs and numerous other national factors have a noticeable influence on your house's worth.
But the most important things that determine your house's value are specific to the local Rancho Santa Margarita economy and residential market.
Access to services - Proximity to jobs and schools also have a significant influence on many home buyers' decisions.
So those regions consistently appreciate, or hold their value, best.
Recent sales - Your real estate agent should give you figures on the recent real estate sales in the neighborhoods that you're asking about. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have property prices gone up or down over the last 5-10 years? Is the area considered desirable because of its location or affordability?
The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a fair combination of jobs in an area, or does it rely on just one industry? Is the mix of commercial and residential development changing?
These items play a part.
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