What drives property values in Guerneville to move up and down?
Over time, the worth of a home will go up and down. Over a long enough period of time, property values , in most cases, appreciate. But, in real estate there are no "sure things".
When your property appreciates you have more resources to borrow against, and you'll produce a larger profit when you sell. But how do you know what you're investing in this year will appreciate over time? Property values in Guerneville fluctuate for various reasons. Choosing a REALTOR® in Guerneville who is familiar with the factors that affect local prices is the most important part.
A lot of people guess that the economy is the most important factor affecting real estate appreciation. Clearly, interest rates, unemployment, business growth, government programs and many other national determinants have a definite effect on your home's value. But the most significant factors that decide your home's value are specific to the local Guerneville economy and housing market.
Location in a community - People typically want homes in the areas with the most useful amenities, such as our work and schools. So those communities usually appreciate, or keep their value consistently, year to year.
Real estate sales trends - What's the time on market? Are sellers having to discount much? Some information can be obtained from public records, but a good agent with a login to the local MLS will usually be able to 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 area is thought to be?
The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a good mixture of job types in an area, or does it count on just one industry? Is the blend of commercial and residential development changing? Each of these items plays a part.