Home prices are forever in flux. Over a long enough period of time, home values almost always appreciate. But there are no guarantees in real estate.
When your property appreciates you have more equity to borrow against, and you get a bigger profit when you sell. Property values in Cary shift for different reasons, so how do you know what you're buying today won't depreciate the day after you close? The most important aspect is that you select a real estate agent in Cary who knows the factors that affect local prices.
A lot of people are convinced that the economy is the biggest factor impacting real estate appreciation. Naturally, interest rates, unemployment, job growth, government programs and numerous other national determinants have a noticeable impact on your home's value. But the most influential issues that decide your property's value are particular to the local Cary economy and housing market.
Location in a community - Proximity to schools and work also have a huge impact on almost all home buyers' choices. So when it comes to keeping their value, these regions usually appreciate much more reliably than areas lacking key features.
Recent sales - Your REALTOR® should provide you with data on the recent home sales in the neighborhoods that you're interested in. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the area considered desirable because of its location or affordability? Have home prices gone up or down over the past 5 to 10 years?
Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a nice mix of jobs in an area, or does it count on just one industry? These items play a role.
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