Home prices are constantly moving up and down.
Home values appreciate in the long term generally.
But, of course, in real estate there is always a certain amount of risk.
When your home appreciates you have more resources to borrow against, and you make a higher profit when you sell.
Property values in Cornelius waver for a variety of reasons, so how can you be sure what you're investing in right now won't depreciate the day after you close?
The most important factor to consider is that you choose a REALTOR® in Cornelius who knows the factors that drive local prices.
The economy is believed to be the biggest factor affecting real estate appreciation.
interest rates, unemployment, job growth, government programs and several other national factors have a measurable impact on your house's value.
However, your property's value and the elements that play the most significant role in its appreciation are particular to the local Cornelius economy and housing market.
Location in a community - Proximity to schools and jobs also have a huge impact on many home buyers' choices.
So when it comes to keeping their value, these regions generally appreciate much more reliably than areas lacking key features.
Recent sales - Your agent should provide you with statistics on the recent home sales in the neighborhoods 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 community believed to be desirable because of its location or affordability? Have house prices risen or declined over the last 5 to 10 years?
The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a nice mix of job types in an area, or does it count on just one industry? Is the mix of commercial and residential zoning changing?
All these play a role.
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