Englewood home prices: Need some help understanding why they appreciate?
Over time, the worth of a piece of real estate will fluctuate up and down.
Over a long enough period of time, house values almost always appreciate.
But, of course, there are no "sure things" in real estate.
When your house appreciates you have more resources to borrow against, and you make a bigger profit when you sell.
Property values in Englewood move up and down for various reasons, so how can you be sure what you're purchasing presently won't depreciate the day after you close?
It's important that you choose an agent in Englewood who understands the factors that affect local prices.
A lot of people are convinced that the economy is the number one factor impacting real estate appreciation.
mortgage rates, unemployment, job growth, government programs and a handful of other national determinants have a definite impact on your property's value.
But the most significant factors that decide your home's value are particular to the local Englewood economy and housing market.
Access to services - Many home buyers decide to live in districts with the most accommodating traits for households to grow, such as a close proximity to jobs and schools.
So when it comes to holding their value, these areas consistently appreciate the best.
The latest home sales - You should receive statistics on the recent real estate sales in the neighborhoods that you'd like to live in from your REALTOR®. You'll want to know figures like time on market and listing price versus selling price.
History of appreciation - In the past 5-10 years, have house prices increased or decreased? Does location or affordability affect how desirable the area is considered?
Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a good combination of jobs in an area, or does it count on just one industry?
All these play a role.
It's worthwhile to know the factors that influence your house's worth.
to receive an assessment of your house's value.
And if you have any questions, call me at (303) 843-1545 or e-mail me