What causes Raleigh home prices to fluctuate?

Real estate values are constantly moving up and down. Over a long enough period of time, house values almost always go up. But, in real estate there is always a certain amount of risk.

When your home appreciates you have a bigger asset to borrow against, and you'll produce a bigger profit when you sell. But how will you be sure what you're purchasing presently will appreciate over time? Property values in Raleigh change for many different reasons. The most important thing is that you select an agent in Raleigh who knows the factors that influence local prices.

A lot of people guess that the economy is the most critical factor affecting real estate appreciation. Obviously, mortgage rates, employment, job growth, government programs and a handful of other national factors have a measurable impact on your house's worth. However, your house's value and the features that play the biggest role in its appreciation depend on the local Raleigh economy and housing market.

Let O'Brien & Associates Realty Inc help you with your first home purchase in Raleigh Access to services - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is a big deal to many us and will greatly influence home values. So those communities typically appreciate, or hold their value consistently, year to year.

Recent home sales - You should receive statistics on the recent real estate sales in the districts that you'd like to live in from your REALTOR®. You'll need to analyze data like time on market and asking price versus selling price.

Appreciation history - Have property prices risen or declined over the last 5-10 years? Is the neighborhood believed to be desirable because of its location or affordability?

Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a good combination of business in an area, or does it rely upon just one industry? These items play a part.

Knowing the factors that affect your house's value is important. Get an estimation of your house's value here. And if you have any questions, call me at 919-332-1070 or e-mail me .

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