Winston-Salem home prices: Need some help understanding why they appreciate?

Over time, the worth of a house will go up and down. Over a long enough period of time, home values normally appreciate. But there are no "sure things" in real estate.

When your home appreciates you have a bigger asset to borrow against, and you'll produce a greater profit when you sell. Property values in Winston-Salem fluctuate for various reasons, so how will you know what you're investing in today won't depreciate the day after you close? The most important aspect to consider is that you select a REALTOR® in Winston-Salem who can identify the factors that influence local prices.

The economy is assumed to be the most crucial factor affecting real estate appreciation. It goes without saying that there are numerous factors on a national level that influence your house's value: unemployment, interest rates, consumer confidence, and more. But the most important things that decide your property's value are specific to the local Winston-Salem economy and housing market.

Let John-Mark Mitchell's Realty Group help you with your first home purchase in Winston-Salem Location in a community - Many of us prefer to live in districts with the most accommodating features for families to succeed, like a close proximity to jobs and schools. So when it comes to retaining their value, these regions usually appreciate better than others.

Recent home sales - You should receive data on the recent real estate sales in the regions that you'd like to live in from your real estate agent. You'll want to learn data like how long a house stays on the market and seller discounts.

History of appreciation - In the past 5 to 10 years, have home prices risen or declined? Does location or affordability affect how desirable the area is thought of as?

Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a good mixture of job types in an area, or does it rely on just one industry? Each of these factors plays a role.

It's wise to learn about the factors that influence your house's price. Click here to get an estimation of your property's value. And if you have any questions, call me at (336) 722-9911 or e-mail me .