What drives property values in San Antonio to move up and down?
Real estate prices are constantly moving up and down.
Generally, house values appreciate in the long term.
But, in real estate there is always a certain amount of risk.
When your home appreciates you have a more valuable asset to borrow against, and you'll generate a larger profit when you sell.
Property values in San Antonio shift for a variety of reasons, so how will you know what you're buying now won't depreciate the day after you close?
It's important that you choose a real estate agent in San Antonio who recognizes the factors that influence local prices.
The economy is thought to be the major factor affecting real estate appreciation.
there are numerous issues on a national level that influence your home's value: unemployment, mortgage rates, inflation, and more.
However, your house's value and the features that play the biggest role in its appreciation depend on the local San Antonio economy and housing market.
Access to services - Proximity to work and schools also have a great impact on almost all home buyers' decisions.
So those regions usually appreciate, or retain their value, best.
The latest home sales - You should receive data on the recent real estate sales in the regions that you'd like to live in from your REALTOR®. You'll want to analyze things like how long a house stays on the market and seller discounts.
The appreciation history - Is the area thought of as desirable because of its location or affordability? Have property prices risen or declined over the last 5-10 years?
The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a nice mix of business in an area, or does it count on just one industry? Is the blend of commercial and residential development changing?
Each of these elements plays a part.
It's wise to know the factors that influence your property's market price.
Get an estimation of your home's value here.
Call me at 210-490-7521 or e-mail me if you have any questions at all. I'd love to hear from you.