Home prices are continually changing.
Over a long enough period of time, home values , by and large, go up.
But, in real estate there are no "sure things".
When your property appreciates you have a greater asset to borrow against, and you'll see a better profit when you sell.
There are numerous reasons why property values in Raleigh move up and down. So, how will you know what you're buying today will appreciate over time?
It's critical that you pick an agent in Raleigh who can identify the factors that affect local prices.
What is the most crucial factor impacting real estate appreciation? Many are convinced that it's the economy.
mortgage rates, employment, job growth, government programs and several other national determinants have a noticeable impact on your home's value.
But the most significant things that figure your property's value are particular to the local Raleigh economy and housing market.
Location in a community - People typically want homes in the areas with the best and most convenient places we go often or everyday, such as our work and schools.
So those communities generally appreciate, or keep their value, best.
Recent sales - Your real estate agent should give you data on the recent real estate sales in the areas that you're asking about. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the area believed to be desirable because of its location or affordability? Have house prices increased or decreased over the last 5-10 years?
Local economy - Is there a fair mixture of business in an area, or does it rely upon just one industry? Have companies moved into or away from an area? Are local companies hiring?
These items play a part.