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02-12-2008, 11:43 AM #1
Fixer Upper
- Join Date
- Feb 2008
- Posts
- 22
What factors lead to increase in house prices
Can some tell me what are the factors that leads to increase in house prices in the market? I live in the Sacramento, and heard that houses in the area went up a few years ago because of the number of demands, which those high # of demands results from people moving in from the bay area and increase of immigrants (especially Hispanics). What are other factors? Your response would be appreciate. Thank you in advance.
Steve
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02-12-2008, 11:02 PM #2
Renter
- Join Date
- Feb 2008
- Posts
- 4
Many things obviously, like the median, "Housing Price Index," Appreciation (or inflation), demand (vs supply) obviously contributes and projected demand based on the expected popluation increase in a certain metro/region, other things that are more tangible would be "upgrades" and improvements which you can do, and the more developed an area is (also factor in the appraised value of this developed area) the more expensive a house can become...annnd location, how near are you to important locations/landmarks i.e. hospitals, military bases, golf courses, malls, WORK, and things like this all contribute....and remember you can get your house appraised based on certain factors and sell it (or rent it) for more or less based on others. (A pool can be considered a Plus or a Minus, especially a minus if the price you set for the house to be bought/rented is increased significantly because of the pool and a family with young children are considering a purchase they may go to and buy a house for less money (but even less value) therefore getting less of a bargain but they are eliminating there concern of the pool and so it is worth it.
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