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Estimating Future Home Values in Auburn CA
By Rodney Morrissey
Many people are gloomy about the economy in general and about the future value of their homes in particular. For those who live in areas that have experienced declines in population and jobs, there is a good reason for concern. However, amid all of the worry about real estate prices, there are places where the long-term prospects are good. These are the places that have growing employment opportunities and ones in which parents want their children to grow up and senior citizens want to retire. Auburn California is that kind of place. There are Auburn CA homes for sale for those who wish to relocate there. Auburn California is a beautiful city with much to offer its residents. Local people and tourists alike enjoy the heart of this community, Old Town Auburn. Old Town Auburn Locals say it is the place “where history captures your heart.” Old town Auburn has an abundance of quality restaurants, such as Brookside Grill, which actually does have a brook running through its lush garden dining area. Awful Annie’s Restaurant is a long time favorite. It offers good food, a view of the historic courthouse and patio dining. Old Town has unique and interesting shops. Antique stores are numerous with large stocks of items from the past. Twice each year antique street fairs are held. Every Saturday morning, this historic section of the city hosts a farmers market that features locally grown fruits and vegetables. A blues festival every summer and a wine festival each fall add color and excitement to life there. There are other attractions outside the historic section, including the Heritage Trail Museum Tour, the Auburn Winery Trail, downhill skiing at world-class resorts, hot-air ballooning, gold panning and historic mine shafts, the Auburn Symphony and much more. A person could find something different to do every day for a year. Other Local Factors that Affect Home Values in Auburn CA * 1. Auburn Financial Statistics:
- Median yearly household income: $51,758
- Income increase since 1990: 51.04%
- Sales tax: 7.28%
- State income tax rate: highest bracket – 9.3%; lowest bracket – 1%
- State average for auto insurance premiums: $821 2. Auburn Housing
- Median home price: $379,381
- Home price 2-5 year gain: 30.47% 3. Auburn Education
- Colleges, universities and professional schools: none within 30 miles
- Junior colleges and technical institutes: 9 within 30 miles 4. Auburn People
- Population of town and surrounding area: 50,003
- Population increase since 1990: 29.93%
- Median age: 42 5. Auburn Leisure & Culture
- Movie theaters within 15 miles: 3
- Restaurants within 15 miles: 568
- Bars within 15 miles: 36
- Libraries within 15 miles: 13
- Public golf courses within 30 miles: 36 6. Auburn Weather
- Annual precipitation: 36.51 inches
- High temp in July: 91.30 degrees F
- Low temp in Jan: 37.60 degrees F Estimating Future Home Values For home owners who are estimating future home values in Auburn CA, there is a question, “How much will my home be worth in the future?” Clearly, no one can answer this question with any specificity, but there are indicators of what the future may hold. 1. Recent Auburn CA real estate history: Financial writers say that during the last few years the United States has been in the worst economic condition that has existed since the Great Depression. Every facet of the economy has been negatively affected, including real estate prices. Like everywhere else, Auburn CA homes for sale have been listed and sold for significantly lower prices than they were a few years ago. 2. Encouraging signs for the future: Many economists think the economy has begun to recover. Real estate prices across the country, including those for Auburn CA homes for sale, have begun to stabilize and, in some cases, to go up. While no one knows when it will occur, this recession will end. History tells us that better days lie ahead for Auburn CA real estate owners. 3. One of the things that makes for a positive outlook for this community is its northern California location. Auburn is the county seat of Placer County. It is blessed with a pleasant climate, sufficient rainfall and beautiful scenery. The community is served by AMTRAK and Interstate Highway 80, as well as some state highways. The Auburn Municipal Airport is located just three miles from town. It is a general aviation airport. It is true that no one can predict the future with certainty. However, the general trend of events points to better times economically. The economic history of this country indicates that this recession, just like all that have preceded it, will end. The future is bright for home values in Auburn California. |
Home Insight
Auburn CA Real Estate
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