Fluctuating home prices in Cary, North Carolina: What causes this?

Real estate prices are constantly moving up and down. House values appreciate in the long term normally. But, in real estate there is always a certain amount of risk.

When your home appreciates you have more resources to borrow against, and you'll produce a larger profit when you sell. There is a variety of reasons why property values in Cary waver. So, how can you be sure what you're investing in this year will appreciate over time? It's critical that you choose an agent in Cary who understands the factors that affect local prices.

A lot of people guess that the economy is the major factor affecting real estate appreciation. Clearly, there are numerous issues on a national level that impact your home's value: unemployment, interest rates, the stock market, and more. But the most influential things that decide your home's value are specific to the local Cary economy and residential market.

Let RE/MAX Performance help you with your first home purchase in Cary Location in a community - Many of us decide to live in regions with the most useful traits for families to develop, like a close proximity to jobs and schools. So these areas often appreciate, or hold their value, best.

Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? What was the selling price compared to the asking price? A lot of data can be retrieved from public records, but a good agent with access to the local MLS will usually be able to provide a more complete picture.

Appreciation history - Have house prices risen or declined over the past 5 to 10 years? Is the area thought of as desirable because of its location or affordability?

Local economy - Is there a nice combination of business in an area, or does it depend on just one industry? Have companies moved into or away from an area? Are local businesses hiring? Each of these factors plays a part.

It's worthwhile to learn about the factors that influence your home's worth. Visit this link for an assessment of your house's value. Call me at (919) 924-4991 or e-mail me if you have any questions at all. I'd love to hear from you.

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