Property prices are continually changing.
Generally, property values appreciate in the long term.
But, in real estate there is always a certain amount of risk.
When your home appreciates you have a larger asset to borrow against, and you'll produce a bigger profit when you sell.
But how will you be sure what you're purchasing today will appreciate over time? Property values in Cary go up and down for a variety of reasons.
It's imperative that you select a REALTOR® in Cary who recognizes the factors that drive local prices.
Many think that the economy is the major factor affecting real estate appreciation.
Obviously,
there are several factors on a national level that change your property's value: unemployment, interest rates, business growth, and more.
But the most important factors that figure your property's value depend on the local Cary economy and housing market.
Access to services - People typically want homes in the regions with the best and most convenient amenities, like our schools, jobs, and shopping.
So these regions typically appreciate, or hold their value, best.
The latest home sales - You should receive facts and figures on the recent real estate sales in the areas that you'd like to live in from your real estate agent. You'll need to analyze things like time on market and seller discounts.
The appreciation history - Is the neighborhood thought of as desirable because of its location or affordability? Have house prices increased or decreased over the past 5-10 years?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a fair combination of business in an area, or does it count on just one industry?
Each of these things plays a part.