What causes Raleigh home prices to fluctuate?

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

When your home appreciates you have a greater asset to borrow against, and you'll generate a bigger profit when you sell. But how will you know what you're purchasing today will appreciate over time? Property values in Raleigh shift for a variety of reasons. It's imperative that you go with an agent in Raleigh who knows the factors that influence local prices.

Many are convinced that the economy is the biggest factor impacting real estate appreciation. It goes without saying that there are some issues on a national level that affect your property's value: unemployment, mortgage rates, business growth, and more. However, your house's value and the things 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 - Proximity to schools and work also have a great impact on almost all home buyers' decisions. So when it comes to keeping their value, these communities usually appreciate the best.

The latest home sales - You should receive information on the recent real estate sales in the areas that you're interested in from your REALTOR®. You'll want to know things like time on market and asking price versus selling price.

History of appreciation - In the past 5-10 years, have house prices gone up or down? Does location or affordability affect how desirable the community is thought of as?

The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a nice mixture of jobs in an area, or does it rely upon just one industry? Is the mix of commercial and residential development changing? These items play a part.

Knowing the factors that impact your home's financial worth is important. Click here to receive an evaluation of your property's value. Have any questions? Please feel free to call me at 919-332-1070 or e-mail me.

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