Real estate prices are forever in flux.
Over a long enough period of time, property values almost always go up.
But there is always a certain amount of risk in real estate.
When your house appreciates you have more resources to borrow against, and you'll produce a greater profit when you sell.
There are different reasons why property values in Randleman rise and fall. So, how can you be sure what you're purchasing presently will appreciate over time?
The most important element is that you choose an agent in Randleman who recognizes the factors that influence local prices.
A lot of people are convinced that the economy is the most important factor affecting real estate appreciation.
there are many issues on a national level that affect your house's value: unemployment, interest rates, the stock market, and more.
But the most influential things that decide your house's value are particular to the local Randleman economy and residential market.
Access to services - Proximity to schools and jobs also have a significant effect on most home buyers' decisions.
So when it comes to retaining their value, these regions consistently appreciate better than others.
The latest home sales - Are homes on the market 30, 60, or 90 days or even longer? What was the final sales amount versus the asking price? Some information can often be retrieved from public records, but a good agent with access to the local MLS will often be able to provide a more complete picture.
History of appreciation - In the last 5-10 years, have house prices gone up or down? Does location or affordability affect how desirable the neighborhood is believed to be?
The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a nice mixture of job types in an area, or does it rely on just one industry? Is the blend of commercial and residential development changing?
Each of these factors plays a role.