Efficient emergency services and thriving local businesses ordinarily translate into healthy property and home values.
Take a look around your neighborhood. Is it safe? Is it visually appealing? Or does your neighborhood have a high crime and poverty rate? Real estate agents, as well as potential buyers, look into these qualitative and quantifiable properties while assessing your home's resale value.
Quality of the School District
High quality schools raise your home's value. Poor school districts and low graduation rates have the potential to negatively impact your home's value.
Local amenities such as parks and libraries have the potential to enhance local property values. If community amenities are un-kept, dirty and dangerous, this can negatively impact your home's value.
Urban Planning & Property Zoning
Property values can be influenced both positively and negatively by zoning decisions and community development plans. How readily available are local shopping, entertainment and eateries? Is there public transportation available or easy access to a freeway? What is nearby the home for sale? These important issues are things real estate agents need to consider before pricing a home.
State of the Economy
Home sales and the state of the economy go hand in hand. When the economy is flourishing, asking prices for home sales go up. When the economy is depressed, it will be more difficult to sell your home, therefore influencing to a lower asking price.
Perception of Your Neighborhood
Whether your neighborhood's perceptions are negative or positive, realistic or unrealistic, they do influence property values. These perceptions have the potential to drive your home price into the ground or up into the stratosphere.
Natural disasters such as hurricanes, wildfires and earth quakes have the potential to lower property values temporarily after such an event. If natural disasters are a reoccurring problem, it can depress your home value permanently.
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