Property prices are forever in flux.
Usually, house values appreciate in the long term.
But, of course, there are no "sure things" in real estate.
When your property appreciates you have more equity to borrow against, and you get a bigger profit when you sell.
But how will you know what you're purchasing right now will appreciate over time? Property values in Englewood go up and down for many different reasons.
Choosing an agent in Englewood who recognizes the factors that influence local prices is the most important factor to consider.
A lot of people assume that the economy is the top factor affecting real estate appreciation.
It goes without saying that
interest rates, employment, job growth, government programs and a handful of other national determinants have a measurable impact on your property's worth.
But the most significant factors that decide your property's value are specific to the local Englewood economy and residential market.
Access to services - Proximity to schools and jobs also have a huge influence on most home buyers' choices.
So when it comes to keeping their value, these communities typically appreciate better than others.
Recent sales - Your agent should give you figures on the recent home sales in the areas that you're asking about. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the area considered desirable because of its location or affordability? Have property prices risen or declined over the last 5-10 years?
The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a nice blend of job types in an area, or does it depend on just one industry? Is the blend of commercial and residential zoning changing?
Each of these elements plays a part.
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