Real estate prices are constantly moving up and down.
For the most part, home values appreciate in the long term.
But, in real estate there are no "sure things".
When your property appreciates you have more resources to borrow against, and you get a bigger profit when you sell.
But how will you know what you're purchasing presently will appreciate over time? Property values in Gilbert waver for different reasons.
The most important factor is that you choose a real estate agent in Gilbert who can identify the factors that drive local prices.
Many believe that the economy is the most critical factor affecting real estate appreciation.
mortgage rates, unemployment, job growth, government programs and quite a few other national factors have a measurable effect on your home's value.
However, your home's value and the aspects that play the most significant role in its appreciation are particular to the local Gilbert economy and housing market.
Access to services - Many home buyers prefer to live in areas with the most conducive elements for homes to succeed, such as a close proximity to jobs and schools.
So these areas generally appreciate, or retain their value, best.
The latest home sales - You should receive stats on the recent real estate sales in the neighborhoods that you're interested in from your agent. You'll want to know things like how long a house stays on the market and seller discounts.
The appreciation history - Is the neighborhood considered desirable because of its location or affordability? Have house prices increased or decreased over the last 5 to 10 years?
Local economy - Is there a fair combination of job types in an area, or does it rely upon just one industry? Have businesses moved into or away from an area? Are local companies hiring?
Each of these things plays a part.