Understanding DuBois home prices

Over time, the value of a house will go up and down. House values appreciate in the long term generally. But, in real estate there are no "sure things".

When your property appreciates you have more equity to borrow against, and you'll produce a larger profit when you sell. But how can you be sure what you're investing in now will appreciate over time? Property values in DuBois go up and down for many different reasons. It's imperative that you select a real estate agent in DuBois who knows the factors that drive local prices.

Many believe that the economy is the most important factor affecting real estate appreciation. It goes without saying that mortgage rates, unemployment, job growth, government programs and a lot of other national factors have a measurable effect on your property's worth. But the most important factors that determine your house's value are specific to the local DuBois economy and housing market.

Access to services - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is a priority to many buyers and will greatly influence home values. So when it comes to keeping their value, these communities usually appreciate the best.

Real estate sales trends - What's the time on market? What was the selling price compared to the asking price? A lot of data can be retrieved from public records, but a good agent with a login to the local MLS will often be able to provide a more complete picture.

Appreciation history - Have home prices gone up or down over the past 5-10 years? Is the area believed to be desirable because of its location or affordability?

The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a good combination of business in an area, or does it rely upon just one industry? Is the mix of commercial and residential zoning changing? Each of these pieces plays a part.