Fluctuating home prices in Mesa, Arizona: What causes this?

Real estate values are continually changing. Over a long enough period of time, house values typically appreciate. But, in real estate there are no "sure things".

When your house appreciates you have a more valuable asset to borrow against, and you'll produce a greater profit when you sell. Property values in Mesa waver for a variety of reasons, so how will you be sure what you're investing in today won't depreciate the day after you close? It's important that you select a REALTOR® in Mesa who can identify the factors that influence local prices.

What is the greatest factor affecting real estate appreciation? Many assume that it's the economy. Obviously, mortgage rates, unemployment, job growth, government programs and quite a few other national factors have a measurable impact on your house's worth. But the most influential things that decide your house's value are specific to the local Mesa economy and housing market.

Let Tom Rizen help you with your first home purchase in Mesa Access to services - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is important to a lot of families and will greatly influence home values. So these areas often appreciate, or hold their value, best.

Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? Are sellers needing to discount much or offer concessions 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.

The appreciation history - Is the neighborhood believed to be desirable because of its location or affordability? Have house prices risen or declined over the last 5-10 years?

Local economy - Is there a nice mix of business 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.

Identifying the factors that affect your property's market price is important. Get an assessment of your house's value here. And if you have any questions, call me at 480-844-0600 or e-mail me .

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