What causes San Antonio home prices to fluctuate?Over time, the worth of a property will fluctuate up and down. Property values appreciate in the long term usually. But, in real estate there is always a certain amount of risk.
When your property appreciates you have a larger asset to borrow against, and you'll make a greater profit when you sell. But how will you know what you're buying today will appreciate over time? Property values in San Antonio change for many different reasons. The most important element to consider is that you choose a REALTOR® in San Antonio who is familiar with the factors that drive local prices.
The economy is believed to be the biggest factor affecting real estate appreciation. It goes without saying that interest rates, employment, job growth, government programs and a lot of other national determinants have a measurable impact on your property's worth. However, your home's value and the components that play the most significant role in its appreciation are particular to the local San Antonio economy and housing market.
Location in a community - Convenient access to schools, employment and amenities like shopping, restaurants and entertainment is important to a lot of families and will greatly influence home values. So these communities consistently appreciate, or retain their value consistently, year to year.
Recent sales - Your agent should provide you with stats 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.
The appreciation history - Is the area thought of as desirable because of its location or affordability? Have house prices increased or decreased over the last 5 to 10 years?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a nice combination of job types in an area, or does it rely upon just one industry? Is the mix of commercial and residential development changing? These items play a part.
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