Raleigh home prices: Need some help understanding why they appreciate?

Over time, the value of a home will fluctuate up and down. House values appreciate in the long term almost always. But, of course, there are no "sure things" in real estate.

When your house appreciates you have a bigger asset to borrow against, and you'll make a greater profit when you sell. There are different reasons why property values in Raleigh rise and fall. So, how will you know what you're investing in now will appreciate over time? Choosing an agent in Raleigh who knows the factors that affect local prices is the most important thing.

A lot of people are convinced that the economy is the most critical factor impacting real estate appreciation. Clearly, there are quite a few factors on a national level that influence your house's value: unemployment, interest rates, consumer confidence, and more. However, your property's value and the aspects that play the biggest role in its appreciation are particular to 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 - Many consumers wish to live in areas with the most helpful components for homes to succeed, like a close proximity to schools, jobs, and work. So when it comes to retaining their value, these regions consistently appreciate the best.

Recent home sales - You should receive information on the recent real estate sales in the areas that you're asking about from your agent. You'll need to learn figures like time on market and listing price as opposed to selling price.

Appreciation history - Have home prices risen or declined over the past 5-10 years? Is the community considered desirable because of its location or affordability?

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

Learning the factors that affect your house's financial worth is important. Visit this link for an estimation of your property's value. Call me at 919-332-1070 or e-mail me if you have any questions at all. I'd love to hear from you.

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