Property values are forever in flux.
In most cases, house values appreciate in the long term.
But there are no "sure things" in real estate.
When your house appreciates you have more resources to borrow against, and you'll produce a larger profit when you sell.
But how do you know what you're buying right now will appreciate over time? Property values in Charlotte waver for different reasons.
It's critical that you pick an agent in Charlotte who understands the factors that drive local prices.
Many assume that the economy is the number one factor impacting real estate appreciation.
It goes without saying that
mortgage rates, employment, business growth, government programs and several other national determinants have a measurable influence on your home's worth.
But the most influential things that decide your home's value are particular to the local Charlotte economy and housing market.
Access to services - Most people want homes in the regions with the most convenient places we go often or everyday, like our jobs and schools.
So when it comes to keeping their value, these communities generally appreciate the best.
Real estate sales trends - What's the time on market? What was the selling price versus the asking price? Some information can be retrieved from public records, but a good agent with a login to the local MLS will often provide a more complete picture.
Appreciation history - Have home prices increased or decreased over the past 5-10 years? Is the area thought of as desirable because of its location or affordability?
The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a good mix of work in an area, or does it rely on just one industry? Is the mix of commercial and residential development changing?
Each of these items plays a part.
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