What causes Cupertino home prices to fluctuate?
Over time, the value of a home will go up and down.
Property values appreciate in the long term almost always.
But, of course, in real estate there is always a certain amount of risk.
When your home appreciates you have more equity to borrow against, and you get a larger profit when you sell.
There are various reasons why property values in Cupertino fluctuate. So, how can you be sure what you're investing in right now will appreciate over time?
It's important that you pick a REALTOR® in Cupertino who is familiar with the factors that drive local prices.
What is the number one factor impacting real estate appreciation? Many guess that it's the economy.
mortgage rates, unemployment, job growth, government programs and some other national factors have a definite impact on your property's worth.
However, your house's value and the elements that play the biggest role in its appreciation depend on the local Cupertino economy and housing market.
Access to services - Proximity to jobs and schools also have a major influence on almost all home buyers' choices.
So these communities usually appreciate, or retain their value consistently, year to year.
Real estate sales trends - What's the time on market? Are sellers having to discount much? A lot of data can be retrieved from public records, but a good agent with a login to the local MLS will usually provide a more complete picture.
Appreciation history - Have house prices gone up or down over the last 5-10 years? Is the area considered desirable because of its location or affordability?
Local economy - Is there a fair blend of business in an area, or does it rely upon just one industry? Have businesses moved into or away from an area? Are local businesses hiring?
All these play a part.
It's wise to know the factors that impact your home's worth.
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for an estimation of your house's value.
And if you have any questions, call me at (408) 499-6105 or e-mail me