Understanding property appreciation in Covina

Home values are constantly moving up and down. Over a long enough period of time, house values , for the most part, go up. But there is always a certain amount of risk in real estate.

When your home appreciates you have a greater asset to borrow against, and you'll realize a higher profit when you sell. Property values in Covina go up and down for different reasons, so how can you be sure what you're purchasing right now won't depreciate the day after you close? The most important part is that you go with a real estate agent in Covina who can identify the factors that affect local prices.

What is the biggest factor impacting real estate appreciation? Many guess that it's the economy. Clearly, there are several issues on a national level that affect your property's value: unemployment, mortgage rates, quarterly earnings reports, and more. But the most important factors that determine your property's value depend on the local Covina economy and residential market.

Let In Home Realty help you with your first home purchase in Covina Access to services - Proximity to schools, jobs, and amenities also have a huge effect on many home buyers' choices. So when it comes to holding their value, these communities often appreciate better than others.

Recent sales - Your real estate agent should provide you with data on the recent home sales in the regions that you're interested in. You'll want to know average time on market, selling versus listing price and more.

The appreciation history - Is the community thought of as desirable because of its location or affordability? Have house prices increased or decreased over the past 5-10 years?

The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a fair mixture of business in an area, or does it rely upon just one industry? Is the mix of commercial and residential zoning changing? All these play a role.

Identifying the factors that play into your house's worth is important. Click here to get an evaluation of your home's value. Please call me at 6266087310 or e-mail me with any questions.

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In Home Realty

DRE# 01871754

319 E San Bernardino Road
Covina, CA 91723-1627