What drives property values in Raleigh to move up and down?

Over time, the worth of a piece of real estate will fluctuate up and down. By and large, property values appreciate in the long term. But, in real estate there is always a certain amount of risk.

When your home appreciates you have a larger asset to borrow against, and you'll produce a better profit when you sell. But how can you be sure what you're investing in right now will appreciate over time? Property values in Raleigh fluctuate for many different reasons. Choosing an agent in Raleigh who recognizes the factors that affect local prices is the most important factor.

The economy is assumed to be the major factor affecting real estate appreciation. Clearly, there are quite a few factors on a national level that adjust your property's value: unemployment, mortgage rates, the stock market, and more. But the most significant factors that figure your property's value are particular to the local Raleigh economy and residential market.

Let O'Brien & Associates Realty Inc @ Keller Williams Raleigh help you with your first home purchase in Raleigh Access to services - Proximity to jobs and schools also have a significant influence on most home buyers' decisions. So those communities often appreciate, or hold their value consistently, year to year.

Recent sales - Your real estate agent should provide you with data on the recent real estate sales in the districts that you're interested in. You'll want to know average time on market, selling versus listing price and more.

The appreciation history - Is the area considered desirable because of its location or affordability? Have home prices gone up or down over the last 5-10 years?

Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a good blend of jobs in an area, or does it rely upon just one industry? All these play a role.

It's important to understand the factors that influence your property's financial worth. Visit this link for an evaluation of your home's value. And if you have any questions, call me at 9196760600 or e-mail me .

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O'Brien & Associates Realty Inc @ Keller Williams Raleigh

4700 Homewood Ct STE 200
Raleigh, North Carolina 27609