What brings down the value of a house?

Having short sales and especially foreclosures on your street reduces the value of your home. Even if they are not direct comparable, such as in the same square feet and the number of bedrooms and bathrooms, they are in your immediate neighborhood, so they can cause the entire area to depreciate in value. A few blizzards and rainstorms each year won't hurt the value of your property, but weather events can. Natural disasters such as hurricanes, tornadoes, wildfires, earthquakes, tsunamis, mudslides and floods can damage the value of your property.

While natural disasters can devastate an area and make it less desirable to live there, climate change is another factor to consider. Maybe you bought a house 20 years ago, and in that time, rainfall has increased significantly. If the local infrastructure wasn't prepared for that type of increased rainfall, the area could experience more frequent flooding, requiring you to take out flood insurance. In the future, people will be hesitant to buy a home in a flood zone, which will lower the value of their property.

If jobs are scarce in your locality, with layoffs occurring and homeownership is jeopardized, values fall. As a ripple effect, fewer people can afford to buy a home, St. Homeowners lower their prices to compete in a diminished market. Short selling and foreclosures become more dominant than fair sales in the market and values are biased The buyer's market develops and sellers lower their prices to compete.

While there is specific insurance coverage for damage from sinkholes in the event that your property is hit by one, they still hurt the value of the property. Noisy neighbors are just as prone to scaring homebuyers as they are messy neighbors.