Appreciating property values in Boulder
Real estate prices are continually changing. Typically, house values appreciate in the long term. But there is always a certain amount of risk in real estate.
When your house appreciates you have a larger asset to borrow against, and you'll generate a higher profit when you sell. But how will you be sure what you're purchasing this year will appreciate over time? Property values in Boulder shift for different reasons. It's important that you choose a real estate agent in Boulder who is familiar with the factors that influence local prices.
Many think that the economy is the most important factor impacting real estate appreciation. After all, there are quite a few factors on a national level that change your property's value: unemployment, interest rates, the stock market, and more. But the most influential things that decide your property's value depend on the local Boulder economy and housing market.
Location in a community - Convenient access to schools, employment and amenities like shopping, restaurants and entertainment is a priority to many families and will greatly influence home values. So when it comes to holding their value, these regions often appreciate better than others.
Prior home sales - What's the time on market? Are sellers needing to discount much? A lot of data can often be obtained from public records, but a good agent with access to the local MLS will often be able to provide a more complete picture.
The appreciation history - Is the area thought to be desirable because of its location or affordability? Have home prices gone up or down over the past 5-10 years?
The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a nice blend 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.