Home prices are continually changing.
For the most part, house values appreciate in the long term.
But, in real estate there is always a certain amount of risk.
When your property appreciates you have more resources to borrow against, and you'll generate a larger profit when you sell.
But how will you be sure what you're purchasing presently will appreciate over time? Property values in Clovis shift for numerous reasons.
The most important thing is that you go with an agent in Clovis who understands the factors that influence local prices.
A lot of people are convinced that the economy is the number one factor impacting real estate appreciation.
there are quite a few factors on a national level that influence your house's value: unemployment, interest rates, business growth, and more.
However, your home's value and the elements that play the biggest role in its appreciation are specific to the local Clovis economy and housing market.
Location in a community - Many of us decide to live in areas with the most accommodating traits for families to shine, like a close proximity to jobs and schools.
So those regions consistently appreciate, or hold their value consistently, year to year.
Recent home sales - How long do homes typically stay up for sale before closing? Are sellers having to discount much? Some information can often be obtained from public records, but a good agent with access to the local MLS will usually provide a more complete picture.
The appreciation history - Is the community thought of as desirable because of its location or affordability? Have house prices increased or decreased over the last 5 to 10 years?
Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a nice combination of work in an area, or does it count on just one industry?
All these play a part.