Property values are constantly moving up and down.
Home values appreciate in the long term by and large.
But, in real estate there is always a certain amount of risk.
When your property appreciates you have more resources to borrow against, and you get a better profit when you sell.
There are numerous reasons why property values in Raleigh waver. So, how will you know what you're buying this year will appreciate over time?
It's important that you go with a REALTOR® in Raleigh who recognizes the factors that affect local prices.
The economy is believed to be the greatest factor impacting real estate appreciation.
It goes without saying that
interest rates, employment, business growth, government programs and numerous other national determinants have a definite influence on your house's value.
But the most important factors that figure your home's value depend on the local Raleigh economy and housing market.
Access to services - Proximity to work and schools also have a huge impact on all home buyers' choices.
So when it comes to holding their value, these areas typically appreciate the best.
The latest home sales - You should receive facts and figures on the recent real estate sales in the regions that you'd like to live in from your agent. You'll want to know things like how long a house stays on the market and seller discounts.
History of appreciation - In the past 5-10 years, have property prices gone up or down? Does location or affordability affect how desirable the community is considered?
Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a fair combination of work in an area, or does it depend on just one industry?
Each of these items plays a role.
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