Real estate values are forever in flux.
Property values appreciate in the long term almost always.
But there are no guarantees in real estate, of course.
When your home appreciates you have a more valuable asset to borrow against, and you'll generate a higher profit when you sell.
Property values in Kearny move up and down for numerous reasons, so how will you know what you're investing in presently won't depreciate the day after you close?
The most important part is that you go with an agent in Kearny who knows the factors that affect local prices.
A lot of people believe that the economy is the top factor affecting real estate appreciation.
Obviously,
there are a lot of factors on a national level that influence your property's value: unemployment, interest rates, quarterly earnings reports, and more.
However, your house's value and the aspects that play the most significant role in its appreciation depend on the local Kearny economy and housing market.
Location in a community - Being close to schools, employment and amenities like shopping, restaurants and entertainment is a big deal to many buyers and will greatly influence home values.
So when it comes to retaining their value, these communities often appreciate the best.
Real estate sales trends - How long do homes typically stay on the market? What was the selling price compared to the listing price? A lot of data can be retrieved from public records, but a good agent with access to the local MLS will usually be able to provide a more complete picture.
History of appreciation - In the past 5 to 10 years, have home prices increased or decreased? Does location or affordability affect how desirable the area is considered?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a good combination of jobs in an area, or does it count on just one industry?
Each of these elements plays a part.