Over time, the worth of a property will go up and down.
Over a long enough period of time, house values normally go up.
But, in real estate there are no "sure things".
When your home appreciates you have more resources to borrow against, and you'll realize 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 Puyallup go up and down for numerous reasons.
Choosing a real estate agent in Puyallup who understands the factors that influence local prices is the most important thing to consider.
The economy is assumed to be the number one factor affecting real estate appreciation.
Obviously,
mortgage rates, unemployment, job growth, government programs and a lot of other national determinants have a measurable effect on your property's value.
However, your home's value and the aspects that play the most significant role in its appreciation are specific to the local Puyallup economy and housing market.
Location in a community - Many of us wish to live in districts with the most convenient elements for homes to succeed, such as a close proximity to schools, jobs, and work.
So these regions consistently appreciate, or hold their value, best.
Trends in home sales - Are homes on the market 30, 60, or 90 days or even longer? What was the final sales amount compared to the listing price? A lot of data can often be retrieved from public records, but a good agent with a login to the local MLS will usually provide a more complete picture.
Appreciation history - Have home prices gone up or down over the past 5-10 years? Is the neighborhood believed to be desirable because of its location or affordability?
Local economy - Is there a good mixture of jobs in an area, or does it depend on just one industry? Have companies moved into or away from an area? Are local companies hiring?
All these play a role.