Look for seven signs that will cause your Hesperia home to increase in value 

As the real estate market shows guarded signs of improvement there are a few indicators that can be relied upon to indicate the direction of your Hesperia CA real estate value.

All housing markets are considered local and unique and that is one reason they vary so widely.  During 2009 the housing market was impacted substantially by the tax credit for first time buyers, low interest rates and housing prices.  While these contributing factors are most likely to continue through April of 2010 the real estate market may be on it own for the rest of the year.

Without the impact of government stimulus there are seven factors that can be analyzed to get a good determination of where property values are headed.

7 Signs to Watch:

1. The unemployment rate in an area can help homeowners determine if their homes values is likely to rise. As employment rates rise, more potential buyers are capable of purchasing homes, increasing the demand for homes, and putting upward pressure on prices.

To find the unemployment rate for Riverside/San Bernardino County and whether it’s rising or falling, you can visit the Bureau of Labor Statistics web site.

2.  Foreclosures: On average nationally, home that have been foreclosed on by lenders sell for up to 30 percent less than similar homes in the same area although this figure can vary widely by housing market. As foreclosures increase, the average prices of homes in the neighborhood decrease.

You can visit RealtyTrac.com to view properties in different stages of the foreclosure process, including foreclosure filings, auctions, and bank REO’s.

3.  Tracking a city’s or neighborhood’s inventory supply also is a good indicator.  A supply of five to six months is considered “normal.” For the most accurate inventory level of homes for sale in Hesperia, homeowners should contact their Realtor®.

Homeowners without an existing relationship with a Realtor® can get instant access to The High Desert Market Condition Report on our web site.

4.  Following the list-to-sale-price ratios of a neighborhood can help determine the direction of home prices in an area. If the price difference is shrinking for an area it suggests the real estate market is improving. Some real estate Web sites offer this information, or again, Hesperia homeowners can get instant access to this information with The High Desert Market Condition Report on our web site.

5. Rising Incomes: Look for income that is rising or a least holding up with inflation.  Homeowners that lack the income to maintain their homes will suffer declines in value that directly influences values in the neighborhood.

The Bureau of Economic Analysis offers information on personal income (2008 data in April 2010).  For state data, the numbers are more current (they run through the second quarter of 2009) and show changes in personal income on a quarterly basis

6. Decreasing Sales Prices: As the monthly selling prices of homes start to decrease in the amount they drop each month in value, the indication is, you are closer to the bottom of the market. 

This information can also be obtained with our Monthly Market Condition Report for The High Desert.

7.  Consumer Confidence:  The last and probably most important is consumer confidence.  Without several months of a positive indicator all of the above will most likely not carry enough weight to have a long term positive effect on the over all market.  Consumer Confidence Survey

For your entire Hesperia CA Real Estate needs visit our web site

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