Piedmont home prices: Need some help understanding why they appreciate?

Over time, the value of a piece of real estate will fluctuate up and down. Property values appreciate in the long term in most cases. But, in real estate there is always a certain amount of risk.

When your house appreciates you have a larger asset to borrow against, and you get a greater profit when you sell. Property values in Piedmont change for many different reasons, so how will you be sure what you're investing in today won't depreciate the day after you close? The most important element to consider is that you select an agent in Piedmont who can identify the factors that drive local prices.

Many are convinced that the economy is the top factor impacting real estate appreciation. Obviously, interest rates, employment, job growth, government programs and some other national factors have a definite influence on your home's worth. But the most important things that figure your house's value are specific to the local Piedmont economy and residential market.

Let Piedmont Realty Inc help you with your first home purchase in Piedmont Location in a community - Proximity to jobs and schools also have a significant impact on almost all home buyers' decisions. So those areas usually appreciate, or keep their value, best.

Recent home sales - You should receive facts and figures on the recent real estate sales in the neighborhoods that you're asking about from your REALTOR®. You'll want to know figures like how long a house stays on the market and seller discounts.

The appreciation history - Is the area thought to be desirable because of its location or affordability? Have house prices gone up or down over the last 5 to 10 years?

Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a nice mixture of work in an area, or does it rely on just one industry? Each of these elements plays a role.

Learning the factors that play into your property's value is important. Get an assessment of your property's value here. Have any questions? Please feel free to call me at 405-373-3970 or e-mail me.