Over time, the value of a piece of real estate will fluctuate up and down.
Over a long enough period of time, house values generally appreciate.
But, in real estate there are no guarantees.
When your home appreciates you have more resources to borrow against, and you make a higher profit when you sell.
But how will you know what you're purchasing now will appreciate over time? Property values in Randleman shift for different reasons.
Choosing an agent in Randleman who can identify the factors that affect local prices is the most important aspect.
A lot of people assume that the economy is the most influential factor affecting real estate appreciation.
It goes without saying that
interest rates, unemployment, job growth, government programs and some other national factors have a measurable impact on your property's worth.
However, your property's value and the aspects that play the most significant role in its appreciation depend on the local Randleman economy and housing market.
Location in a community - Proximity to schools and jobs also have a significant effect on many home buyers' decisions.
So when it comes to holding their value, these areas often appreciate better than others.
Recent sales - Your REALTOR® should provide you with reports on the recent real estate sales in the areas that you're interested in. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the past 5 to 10 years, have property prices risen or declined? Does location or affordability affect how desirable the community is believed to be?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a fair combination of job types in an area, or does it rely on just one industry?
All these play a role.
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