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

Home values are forever in flux. Over a long enough period of time, property values generally go up. But, in real estate there is always a certain amount of risk.

When your property appreciates you have a bigger asset to borrow against, and you'll see a better profit when you sell. Property values in Concord move up and down for various reasons, so how do you know what you're investing in now won't depreciate the day after you close? The most important thing is that you go with a real estate agent in Concord who is familiar with the factors that affect local prices.

A lot of people are convinced that the economy is the most important factor affecting real estate appreciation. Obviously, there are a lot of factors on a national level that adjust your property's value: unemployment, interest rates, quarterly earnings reports, and more. However, your house's value and the things that play the most significant role in its appreciation depend on the local Concord economy and housing market.

Let Premier Real Estate Team, Inc help you with your first home purchase in Concord Access to services - Most people want homes in the areas with the easiest access to amenities, like our schools and jobs. So these communities typically appreciate, or keep their value consistently, year to year.

Prior home sales - What's the time on market? Are sellers having to discount much? A lot of data can often be retrieved from public records, but a good agent with a login to the local MLS will often be able to provide a more complete picture.

The appreciation history - Is the neighborhood thought to be desirable because of its location or affordability? Have house prices gone up or down over the last 5-10 years?

Local economy - Is there a nice blend of work in an area, or does it count on just one industry? Have businesses moved into or away from an area? Are local companies hiring? These items play a role.

It's worthwhile to know the factors that influence your property's price. Click here to get an assessment of your house's value. Have any questions? Please feel free to call me at 7047921900 or e-mail me.

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