What causes Englewood home prices to fluctuate?
Over time, the value of a piece of real estate will go up and down. Home values appreciate in the long term almost always. But, of course, there are no guarantees in real estate.
When your house appreciates you have a more valuable asset to borrow against, and you make a larger profit when you sell. Property values in Englewood rise and fall for various reasons, so how can you be sure what you're buying presently won't depreciate the day after you close? It's critical that you go with a REALTOR® in Englewood who is familiar with the factors that drive local prices.
The economy is believed to be the number one factor affecting real estate appreciation. After all, there are some factors on a national level that adjust your house's value: unemployment, interest rates, consumer confidence, and more. But the most important issues that figure your house's value depend on the local Englewood economy and housing market.
Location in a community - Proximity to schools, jobs, and amenities also have a significant impact on all home buyers' choices. So these regions often appreciate, or carry their value consistently, year to year.
Recent sales - Your agent should give you facts and figures on the recent real estate sales in the neighborhoods that you'd like to live in. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have home prices increased or decreased over the past 5 to 10 years? Is the area thought of as desirable because of its location or affordability?
Local economy - Is there a nice mix of work in an area, or does it rely on just one industry? Have companies moved into or away from an area? Are local companies hiring? All these play a role.
It's worthwhile to understand the factors that play into your property's price. Visit this link
for an evaluation of your home's value. And if you have any questions, call me at (303) 843-1545 or e-mail me