Over time, the value of a house will fluctuate up and down.
For the most part, house values appreciate in the long term.
But, of course, there are no guarantees in real estate.
When your home appreciates you have a greater asset to borrow against, and you'll realize a larger profit when you sell.
But how will you know what you're investing in now will appreciate over time? Property values in Piedmont fluctuate for a variety of reasons.
The most important part is that you choose a real estate agent in Piedmont who understands the factors that drive local prices.
A lot of people are convinced that the economy is the most influential factor affecting real estate appreciation.
mortgage rates, unemployment, job growth, government programs and quite a few other national determinants have a definite influence on your home's worth.
But the most important factors that determine 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 best and most convenient amenities, like our schools and work.
So when it comes to keeping their value, these regions usually appreciate the best.
Real estate sales trends - What's the time on market? Are sellers having to discount much? Some information can often be retrieved from public records, but a good agent with a login to the local MLS will usually provide a more complete picture.
Appreciation history - Have house prices risen or declined over the past 5-10 years? Is the neighborhood believed to be desirable because of its location or affordability?
The local economy - Are local companies hiring? Have companies 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 mix of commercial and residential zoning changing?
These items play a role.