Over time, the value of a property will go up and down.
Home values appreciate in the long term almost always.
But, in real estate there are no "sure things".
When your house appreciates you have a larger asset to borrow against, and you'll realize a higher profit when you sell.
But how can you be sure what you're buying now will appreciate over time? Property values in Kearny shift for a variety of reasons.
It's imperative that you pick a real estate agent in Kearny who knows the factors that influence local prices.
The economy is believed to be the top factor affecting real estate appreciation.
After all,
interest rates, employment, business growth, government programs and a handful of other national factors have a noticeable effect on your property's worth.
However, your house's value and the aspects that play the biggest role in its appreciation are specific to the local Kearny economy and housing market.
Location in a community - People typically want homes in the regions with the best and most convenient amenities, like our jobs and schools.
So those areas consistently appreciate, or hold their value, best.
The latest home sales - How quickly are houses selling? What was the final sales amount compared to the listing price? A lot of data can be obtained from public records, but a good agent with a login to the local MLS will often be able to provide a more complete picture.
The appreciation history - Is the area believed to be desirable because of its location or affordability? Have house prices risen or declined over the last 5 to 10 years?
Local economy - Is there a nice blend of jobs in an area, or does it rely upon just one industry? Have companies moved into or away from an area? Are local companies hiring?
These items play a role.