Property prices are continually changing.
Usually, property values appreciate in the long term.
But, of course, there are no "sure things" in real estate.
When your home appreciates you have a more valuable asset to borrow against, and you make a higher profit when you sell.
Property values in Colorado Springs go up and down for various reasons, so how will you be sure what you're purchasing this year won't depreciate the day after you close?
The most important element is that you go with a real estate agent in Colorado Springs who recognizes the factors that influence local prices.
Many believe that the economy is the number one factor affecting real estate appreciation.
there are some factors on a national level that impact your property's value: unemployment, mortgage rates, consumer confidence, and more.
But the most influential issues that determine your house's value depend on the local Colorado Springs economy and residential market.
Location in a community - Proximity to schools and work also have a huge influence on most home buyers' choices.
So these areas often appreciate, or carry their value, best.
Real estate sales trends - What's the time on market? What was the selling price compared to the asking price? Some information can often be obtained from public records, but a good agent with a login to the local MLS will often provide a more complete picture.
History of appreciation - In the last 5 to 10 years, have house prices increased or decreased? Does location or affordability affect how desirable the community is considered?
Local economy - Is there a fair combination of jobs in an area, or does it depend on just one industry? Have companies moved into or away from an area? Are local businesses hiring?
Each of these items plays a role.