What causes Cary home prices to fluctuate?

Over time, the worth of a house will fluctuate up and down. In most cases, property values appreciate in the long term. But, in real estate there are no guarantees.

When your house appreciates you have a bigger asset to borrow against, and you'll produce a greater profit when you sell. There are many different reasons why property values in Cary fluctuate. So, how will you know what you're buying presently will appreciate over time? Choosing a real estate agent in Cary who recognizes the factors that affect local prices is the most important aspect to consider.

Many guess that the economy is the top factor affecting real estate appreciation. After all, there are some issues on a national level that alter your house's value: unemployment, mortgage rates, quarterly earnings reports, and more. However, your home's value and the aspects that play the biggest role in its appreciation are particular to the local Cary economy and housing market.

Let RE/MAX Performance help you with your first home purchase in Cary Access to services - Proximity to schools, jobs, and amenities also have a great effect on many home buyers' choices. So those areas generally appreciate, or retain their value, best.

Prior home sales - How quickly are homes selling? Are sellers having to discount much or offer concessions A lot of data can be obtained 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 neighborhood thought of as desirable because of its location or affordability? Have property prices increased or decreased over the last 5 to 10 years?

The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a fair mixture of job types in an area, or does it count on just one industry? Is the blend of commercial and residential development changing? All these play a role.

It's vital to know the factors that influence your home's value. Click here to get an assessment of your house's value. And if you have any questions, call me at (919) 924-4991 or e-mail me .

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