Home values are continually changing.
Home values appreciate in the long term typically.
But, of course, in real estate there are no "sure things".
When your home appreciates you have a larger asset to borrow against, and you'll see a larger profit when you sell.
There are various reasons why property values in Puyallup change. So, how will you be sure what you're purchasing this year will appreciate over time?
It's imperative that you select a REALTOR® in Puyallup who understands the factors that affect local prices.
Many think that the economy is the most critical factor impacting real estate appreciation.
Obviously,
interest rates, employment, job growth, government programs and quite a few other national determinants have a definite effect on your property's worth.
However, your house's value and the components that play the biggest role in its appreciation depend on the local Puyallup economy and housing market.
Access to services - Convenient access to schools, employment and amenities like shopping, restaurants and entertainment is important to a lot of families and will greatly influence home values.
So when it comes to retaining their value, these regions usually appreciate much more reliably than areas lacking key features.
Recent sales - Your agent should provide you with data on the recent home sales in the districts that you're interested in. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the neighborhood considered desirable because of its location or affordability? Have house prices risen or declined over the last 5-10 years?
Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a fair blend of business in an area, or does it count on just one industry?
Each of these elements plays a role.