Home prices are forever in flux. Property values appreciate in the long term usually. But there are no guarantees in real estate.
When your home appreciates you have a bigger asset to borrow against, and you'll make a better profit when you sell. There is a variety of reasons why property values in Cary move up and down. So, how can you be sure what you're buying today will appreciate over time? The most important aspect to consider is that you go with an agent in Cary who recognizes the factors that affect local prices.
Many guess that the economy is the greatest factor affecting real estate appreciation. It goes without saying that there are a lot of issues on a national level that adjust your house's value: unemployment, interest rates, the stock market, and more. But the most significant factors that decide your property's value depend on the local Cary economy and residential market.
Access to services - Convenient access to schools, employment and amenities like shopping, restaurants and entertainment is a big deal to many families and will greatly influence home values. So when it comes to retaining their value, these areas often appreciate the best.
Recent sales - Your real estate agent should provide you with information on the recent real estate sales in the districts that you're asking about. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have house prices increased or decreased over the last 5-10 years? Is the area thought of as desirable because of its location or affordability?
Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a good combination of jobs in an area, or does it rely on just one industry? Each of these items plays a role.
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