Understanding San Diego property appreciation

Home values are continually changing. Normally, home values appreciate in the long term. But, of course, in real estate there are no guarantees.

When your property appreciates you have a greater asset to borrow against, and you'll create a bigger profit when you sell. But how do you know what you're investing in right now will appreciate over time? Property values in San Diego waver for numerous reasons. Choosing an agent in San Diego who recognizes the factors that drive local prices is the most important element.

A lot of people think that the economy is the top factor affecting real estate appreciation. Clearly, interest rates, employment, business growth, government programs and some other national determinants have a measurable influence on your home's worth. However, your home's value and the elements that play the most significant role in its appreciation are particular to the local San Diego economy and housing market.

Access to services - Convenient access to schools, work and amenities like shopping, restaurants and entertainment is important to a lot of us and will greatly influence home values. So these regions generally appreciate, or retain their value consistently, year to year.

Prior home sales - How fast are houses selling? Are sellers having to discount much or offer concessions Some information can often 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 last 5-10 years, have house prices gone up or down? Does location or affordability affect how desirable the community is thought of as?

Local economy - Is there a nice combination of work in an area, or does it rely upon just one industry? Have businesses moved into or away from an area? Are local companies hiring? These items play a role.