Over time, the value of a piece of real estate will fluctuate up and down.
Property values appreciate in the long term in most cases.
But, in real estate there are no "sure things".
When your house appreciates you have a greater asset to borrow against, and you'll realize a larger profit when you sell.
Property values in Loveland move up and down for a variety of reasons, so how do you know what you're buying this year won't depreciate the day after you close?
It's important that you select a REALTOR® in Loveland who can identify the factors that influence local prices.
The economy is believed to be the number one factor impacting real estate appreciation.
there are quite a few factors on a national level that change your house's value: unemployment, mortgage rates, the stock market, and more.
However, your home's value and the features that play the most significant role in its appreciation are particular to the local Loveland economy and housing market.
Location in a community - Many consumers want to live in areas with the most helpful factors for families to shine, such as a close proximity to schools, jobs, and work.
So when it comes to retaining their value, these communities consistently appreciate the best.
Real estate sales trends - How long are homes up for sale before closing? What was the selling price compared to the asking price? A lot of data can often be retrieved from public records, but a good agent with a login to the local MLS will usually provide a more complete picture.
The appreciation history - Is the area thought of as desirable because of its location or affordability? Have home prices increased or decreased over the past 5-10 years?
Local economy - Is there a fair mix of job types in an area, or does it depend on just one industry? Have businesses moved into or away from an area? Are local companies hiring?
Each of these elements plays a part.