Understanding property appreciation in Sunset Beach
Over time, the value of a piece of real estate will fluctuate 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 "sure things".
When your home appreciates you have a greater asset to borrow against, and you'll generate a bigger profit when you sell.
Property values in Sunset Beach change for numerous reasons, so how will you be sure what you're buying today won't depreciate the day after you close?
Choosing an agent in Sunset Beach who recognizes the factors that affect local prices is the most important factor to consider.
Many assume that the economy is the most critical factor impacting real estate appreciation.
interest rates, unemployment, job growth, government programs and many other national factors have a measurable influence on your house's value.
But the most significant issues that determine your house's value are particular to the local Sunset Beach economy and housing market.
Access to services - Proximity to schools and jobs also have a huge effect on most home buyers' choices.
So when it comes to retaining their value, these regions often appreciate better than others.
Prior home sales - How long do homes typically stay on the market? Are sellers needing to discount much? Some information can be retrieved from public records, but a good agent with access to the local MLS will often be able to provide a more complete picture.
The appreciation history - Is the community believed to be desirable because of its location or affordability? Have property prices increased or decreased over the past 5-10 years?
Local economy - Is there a nice mixture of work in an area, or does it rely on just one industry? Have companies moved into or away from an area? Are local businesses hiring?
All these play a part.
It's wise to know the factors that play into your house's worth.
to receive an evaluation of your house's value.
And if you have any questions, call me at 9103676396 or e-mail me