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Understanding San Diego home pricesOver time, the worth of a house will go up and down. Over a long enough period of time, home values almost always go up. But, in real estate there are no "sure things".
When your home appreciates you have more resources to borrow against, and you'll generate a greater profit when you sell. Property values in San Diego move up and down for different reasons, so how will you know what you're purchasing right now won't depreciate the day after you close? The most important aspect is that you go with a REALTOR® who understands the factors that affect local prices, no matter what the community or where they are.
The economy is thought to be the number one factor affecting real estate appreciation. Naturally, there are numerous issues on a national level that affect your property's value: unemployment, interest rates, inflation, and more. However, your house's value and the elements that play the biggest role in its appreciation are particular to the local San Diego economy and housing market.
 Location in a community - Being close to schools, work and amenities like shopping, restaurants and entertainment is important to many buyers and will greatly influence home values. So when it comes to retaining their value, these communities often appreciate better than others.
Recent sales - Your real estate agent should give you facts and figures on the recent real estate sales in the neighborhoods that you'd like to live in. 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 past 5-10 years? Is the community thought of as desirable because of its location or affordability?
Local economy - Is there a fair mixture of business in an area, or does it rely on just one industry? Have businesses moved into or away from an area? Are local businesses hiring? These items play a role.
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It's important to be informed about the factors that impact your house's worth. Get an estimation of your property's value here. Call me at (858) 487-5150 or e-mail me if you have any questions at all. I'd love to hear from you. |
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CA DRE Lic. #01318820  112 Orange Avenue, Coronado, Ca San Diego, CA 92118 Phone: Cell: Fax: First Time Buyers | Home Buyer Checklist | For Buyers | Real Estate Glossary | Selling Your Home | Home | Home Appreciation | Blog Copyright © 2012 Kelly Jones
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