Real estate prices are forever in flux.
Over a long enough period of time, property values generally go up.
But, of course, there are no guarantees in real estate.
When your home appreciates you have more resources to borrow against, and you'll realize a larger profit when you sell.
But how will you be sure what you're investing in right now will appreciate over time? Property values in Piedmont vary for various reasons.
The most important factor to consider is that you go with a REALTOR® in Piedmont who knows the factors that influence local prices.
Many assume that the economy is the most influential factor affecting real estate appreciation.
interest rates, employment, job growth, government programs and quite a few other national determinants have a definite influence on your home's worth.
But the most significant factors that figure your home's value are specific to the local Piedmont economy and housing market.
Access to services - Proximity to schools, jobs, and amenities also have a major effect on most home buyers' decisions.
So when it comes to retaining their value, these communities generally appreciate the best.
Recent sales - Your real estate agent should give you stats on the recent home sales in the neighborhoods that you'd like to live in. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the community considered desirable because of its location or affordability? Have home prices increased or decreased over the last 5-10 years?
Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a good mix of job types in an area, or does it rely upon just one industry?
These items play a role.