Over time, the worth of a piece of real estate will fluctuate up and down. Over a long enough period of time, property values , for the most part, appreciate. But there is always a certain amount of risk in real estate.
When your property appreciates, the property gain equity. You may see a increase if you decide to sell or refinance in a market where homes are appreciating. Property values vary for many different reasons.
What is the most influential factor affecting real estate appreciation? Many think that it's the economy. Obviously, interest rates, unemployment, job growth, government programs and several other national factors have a noticeable influence on your property's worth. But the most significant factors that determine your home's value are particular to the local economy and housing market.
Location in a community - Some people want homes in the areas with the easiest access to amenities, such as our jobs and schools.
Real estate sales trends - What's the time on the market? What was the selling price versus 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 past 5-10 years property have increase.
The local economy -
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