Understanding Glendale home prices

Over time, the value of a piece of real estate will go up and down. Property values appreciate in the long term in most cases. But, of course, in real estate there are no guarantees.

When your house appreciates you have more resources to borrow against, and you'll make a bigger profit when you sell. But how will you be sure what you're investing in presently will appreciate over time? Property values in Glendale fluctuate for numerous reasons. The most important thing is that you go with a REALTOR^® in Glendale who understands the factors that drive local prices.

A lot of people are convinced that the economy is the greatest factor impacting real estate appreciation. After all, mortgage rates, employment, job growth, government programs and a handful of other national determinants have a measurable impact on your house's worth. But the most influential issues that figure your house's value depend on the local Glendale economy and residential market.

Access to services - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is a priority to a lot of buyers and will greatly influence home values. So those regions typically appreciate, or retain their value consistently, year to year.

Recent home sales - How long are homes on the market? What was the final sales amount compared to the listing price? Some information can be obtained from public records, but a good agent with access 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 to 10 years? Is the area thought of as desirable because of its location or affordability?

Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a fair blend of business in an area, or does it rely on just one industry? These items play a role.