Understanding Piedmont property appreciation
Over time, the value of a house will go up and down.
Over a long enough period of time, house values , by and large, go up.
But, of course, in real estate there are no guarantees.
When your property appreciates you have a bigger asset to borrow against, and you'll realize a greater profit when you sell.
But how do you know what you're investing in this year will appreciate over time? Property values in Piedmont change for many different reasons.
It's important that you select a real estate agent in Piedmont who understands the factors that affect local prices.
Many guess that the economy is the most critical factor affecting real estate appreciation.
It goes without saying that
there are quite a few issues on a national level that influence your property's value: unemployment, mortgage rates, business growth, and more.
But the most significant factors that figure your home's value are particular to the local Piedmont economy and residential market.
Location in a community - Most people want homes in the districts with the most accommodating features, like our schools and work.
So when it comes to holding their value, these communities generally appreciate much more reliably than areas lacking key features.
Recent sales - Your real estate agent should provide you with statistics on the recent real estate sales in the districts that you're interested in. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have property prices risen or declined over the last 5 to 10 years? Is the neighborhood believed to be desirable because of its location or affordability?
Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a nice mix of business in an area, or does it rely upon just one industry?
These items play a role.
Learning the factors that play into your property's worth is important.
to get an evaluation of your home's value.
Please call me at 405-373-3970 or e-mail me
with any questions.