Understanding Los Alamos property appreciation
Over time, the value of a home will go up and down.
Property values appreciate in the long term usually.
But, of course, there are no guarantees in real estate.
When your property appreciates you have a larger asset to borrow against, and you'll see a bigger profit when you sell.
There are many different reasons why property values in Los Alamos waver. So, how do you know what you're buying today will appreciate over time?
It's imperative that you select a REALTOR® in Los Alamos who is familiar with the factors that drive local prices.
Many assume that the economy is the major factor affecting real estate appreciation.
mortgage rates, unemployment, job growth, government programs and several other national determinants have a noticeable effect on your house's worth.
But the most important issues that determine your house's value are specific to the local Los Alamos economy and residential market.
Location in a community - Most people want homes in the districts with the best and most convenient features, like our schools, jobs, and shopping.
So when it comes to keeping their value, these areas generally appreciate better than others.
Recent home sales - You should receive facts and figures on the recent real estate sales in the districts that you're asking about from your agent. You'll want to learn things like how long a house stays on the market and seller discounts.
The appreciation history - Is the community believed to be desirable because of its location or affordability? Have house prices risen or declined over the last 5-10 years?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a good mixture of work in an area, or does it count on just one industry?
These items play a part.
Learning the factors that influence your home's financial worth is important.
to get an evaluation of your home's value.
Please call me at (505) 662-8899 or e-mail me
with any questions.