Understanding property appreciation in Concord

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

When your home appreciates you have more resources to borrow against, and you'll realize a bigger profit when you sell. Property values in Concord go up and down for numerous reasons, so how can you be sure what you're buying this year won't depreciate the day after you close? Choosing a real estate agent in Concord who knows the factors that influence local prices is the most important factor.

A lot of people are convinced that the economy is the major factor affecting real estate appreciation. Clearly, there are quite a few factors on a national level that change your property's value: unemployment, mortgage rates, quarterly earnings reports, and more. But the most important issues that decide your property's value depend on the local Concord economy and residential market.

Let New Way Realty help you with your first home purchase in Concord Access to services - Proximity to work and schools also have a great influence on many home buyers' choices. So when it comes to keeping their value, these regions consistently appreciate better than others.

Recent home sales - You should receive facts and figures on the recent real estate sales in the districts that you'd like to live in from your real estate agent. You'll want to analyze things like time on market and seller discounts.

History of appreciation - In the past 5 to 10 years, have home prices gone up or down? Does location or affordability affect how desirable the area is thought to be?

The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a nice mix of work in an area, or does it rely upon just one industry? Is the mix of commercial and residential development changing? Each of these pieces plays a role.

Recognizing the factors that impact your home's value is important. Get an estimation of your home's value here. Please call us at 603-796-2002 or e-mail us with any questions.

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