Property prices are continually changing.
Generally, house values appreciate in the long term.
But, in real estate there are no "sure things".
When your home appreciates you have more equity to borrow against, and you'll see a larger profit when you sell.
Property values in Albuquerque fluctuate for many different reasons, so how do you know what you're investing in presently won't depreciate the day after you close?
Choosing a real estate agent in Albuquerque who is familiar with the factors that affect local prices is the most important thing to consider.
What is the number one factor impacting real estate appreciation? Many are convinced that it's the economy.
there are quite a few issues on a national level that impact your home's value: unemployment, interest rates, inflation, and more.
However, your property's value and the elements that play the most significant role in its appreciation are specific to the local Albuquerque economy and housing market.
Access to services - Most people want homes in the areas with the easiest access to amenities, like our schools and work.
So when it comes to holding their value, these regions consistently appreciate better than others.
Real estate sales trends - What's the time on market? Are sellers needing to discount much? A lot of data can be obtained from public records, but a good agent with a login to the local MLS will often provide a more complete picture.
Appreciation history - Have home prices gone up or down over the last 5-10 years? Is the community thought to be desirable because of its location or affordability?
Local economy - Is there a good mix of job types in an area, or does it rely on just one industry? Have companies moved into or away from an area? Are local companies hiring?
Each of these items plays a part.