Understanding property appreciation in the Charlotte metro area
Home values are constantly moving up and down.
Over a long enough period of time, property values , in most cases, appreciate.
But, of course, in real estate there are no "sure things".
When your property appreciates you have a greater asset to borrow against, and you make a greater profit when you sell.
But how can you be sure what you're purchasing today will appreciate over time? Property values in the Charlotte metro area shift for numerous reasons.
The most important factor to consider is that you go with a REALTOR® in the Charlotte metro area who recognizes the factors that drive local prices.
What is the top factor affecting real estate appreciation? Many believe that it's the economy.
It goes without saying that
mortgage rates, employment, business growth, government programs and some other national factors have a measurable impact on your property's worth.
But the most influential things that figure your home's value are particular to the local Charlotte metro area economy and housing market.
Location in a community - Many of us choose to live in areas with the most conducive traits for families to succeed, like a close proximity to schools and work.
So those areas typically appreciate, or retain their value, best.
Recent sales - Your real estate agent should give you figures on the recent real estate sales in the regions that you're asking about. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the last 5 to 10 years, have property prices risen or declined? Does location or affordability affect how desirable the area is thought of as?
The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a nice combination of jobs in an area, or does it rely upon just one industry? Is the mix of commercial and residential zoning changing?
Each of these elements plays a role.
Recognizing the factors that impact your home's financial worth is important.
Get an estimation of your property's value here
And if you have any questions, call me at 704-780-4981, toll free at 888-341-5296 or e-mail me