What drives property values in Englewood to move up and down?
Home prices are constantly moving up and down.
Property values appreciate in the long term normally.
But, of course, in real estate there are no guarantees.
When your home appreciates you have more resources to borrow against, and you'll make a greater profit when you sell.
Property values in Englewood shift for various reasons, so how will you be sure what you're investing in now won't depreciate the day after you close?
The most important thing is that you select a REALTOR® in Englewood who is familiar with the factors that influence local prices.
Many are convinced that the economy is the most crucial factor impacting real estate appreciation.
It goes without saying that
mortgage rates, employment, business growth, government programs and numerous other national determinants have a noticeable impact on your property's value.
But the most important things that decide your property's value are particular to the local Englewood economy and housing market.
Location in a community - Many consumers decide to live in regions with the most convenient features for families to grow, like a close proximity to schools and work.
So those regions generally appreciate, or retain their value, best.
Recent sales - Your real estate agent should give you information on the recent real estate sales in the regions that you'd like to live in. 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 house prices gone up or down? Does location or affordability affect how desirable the neighborhood is thought of as?
Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a good mixture of jobs in an area, or does it depend on just one industry?
All these play a part.
It's important to be informed about the factors that impact your house's worth.
to receive an evaluation of your house's value.
Please call me at (303) 843-1545 or e-mail me
with any questions.