Real estate prices are forever in flux.
Over a long enough period of time, house values usually go up.
But, of course, in real estate there is always a certain amount of risk.
When your property appreciates you have a greater asset to borrow against, and you get a larger profit when you sell.
Property values in Loveland change for different reasons, so how do you know what you're investing in this year won't depreciate the day after you close?
Choosing a REALTOR® in Loveland who recognizes the factors that influence local prices is the most important part.
Many believe that the economy is the number one factor impacting real estate appreciation.
there are many issues on a national level that influence your home's value: unemployment, interest rates, inflation, and more.
However, your home's value and the factors that play the biggest role in its appreciation depend on the local Loveland economy and housing market.
Location in a community - Many of us choose to live in areas with the most accommodating elements for households to shine, such as a close proximity to schools and work.
So those areas usually appreciate, or hold their value consistently, year to year.
Real estate sales trends - How quickly are homes selling? Are sellers having to discount much? Some information can be obtained from public records, but a good agent with access to the local MLS will usually provide a more complete picture.
History of appreciation - In the last 5 to 10 years, have home prices risen or declined? Does location or affordability affect how desirable the community is thought to be?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a good combination of jobs in an area, or does it depend on just one industry? Is the blend of commercial and residential zoning changing?
Each of these pieces plays a part.