Understanding property appreciation in Winston-Salem

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

When your property appreciates you have more resources to borrow against, and you'll create a larger profit when you sell. But how can you be sure what you're investing in now will appreciate over time? Property values in Winston-Salem move up and down for many different reasons. Choosing an agent in Winston-Salem who can identify the factors that influence local prices is the most important factor to consider.

A lot of people guess that the economy is the major factor affecting real estate appreciation. Clearly, there are many issues on a national level that adjust your home's value: unemployment, interest rates, inflation, and more. But the most important factors that figure your property's value are particular to the local Winston-Salem economy and residential market.

Let John-Mark Mitchell's Realty Group help you with your first home purchase in Winston-Salem Location in a community - People typically want homes in the areas with the easiest access to features, like our schools and work. So when it comes to holding their value, these areas typically appreciate the best.

The latest home sales - You should receive facts and figures on the recent real estate sales in the regions that you'd like to live in from your real estate agent. You'll need to learn things like how long a house stays on the market and seller discounts.

History of appreciation - In the past 5-10 years, have house prices increased or decreased? Does location or affordability affect how desirable the neighborhood is thought to be?

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

Learning the factors that play into your property's financial worth is important. Visit this link for an evaluation of your house's value. Please call me at (336) 722-9911 or e-mail me with any questions.