Understanding Napa Home Prices
Over time, the value of a property will fluctuate up and down. For the most part, house values appreciate in the long term. But, of course, in real estate there is always a certain amount of risk.
When your home appreciates you have more resources to borrow against, and you’ll produce a higher profit when you sell. Property values in Napa waver for many different reasons, so how will you be sure what you’re purchasing today won’t depreciate the day after you close? Choosing a REALTOR® in Napa who recognizes the factors that drive local prices is the most important element to consider.
What is the greatest factor affecting real estate appreciation? Many believe that it’s the economy. After all, mortgage rates, unemployment, business growth, government programs and quite a few other national determinants can always impact your property’s value. However, your property’s value and the aspects that play the biggest role in its appreciation depend on the local Napa economy and housing market.
Access to services
Most people want homes in the regions with the easiest access to places we go often or everyday, like our work and schools. So when it comes to keeping their value, these communities consistently appreciate the best.
Real estate sales trends
How long are homes up for sale before closing? 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 usually be able to provide a more complete picture.
History of appreciation
In the past 5-10 years, have property prices increased or decreased? Does location or affordability affect how desirable the area is thought to be?
The local economy
Are local companies hiring? Have companies moved into or away from an area? Is there a good mixture of job types in an area, or does it rely on just one industry? Is the blend of commercial and residential development changing? All these play a part.
It’s worthwhile to be informed about the factors that impact your property’s price. Click on the cities listed in the navigation above to see market statistics for each area. Call me at 707.888.2199 or e-mail me
if you have any questions or would like a detailed home valuation. I’d love to hear from you.