Fluctuating home prices in Englewood, Colorado: What causes this?
Over time, the worth of a house will go up and down.
For the most part, home values appreciate in the long term.
But, in real estate there is always a certain amount of risk.
When your home appreciates you have a greater asset to borrow against, and you'll generate a larger profit when you sell.
There are many different reasons why property values in Englewood rise and fall. So, how will you know what you're buying now will appreciate over time?
The most important thing is that you pick a REALTOR® in Englewood who is familiar with the factors that affect local prices.
Many think that the economy is the most important factor impacting real estate appreciation.
there are many issues on a national level that impact your home's value: unemployment, interest rates, inflation, 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 - Convenient access to schools, employment and amenities like shopping, restaurants and entertainment is important to many buyers and will greatly influence home values.
So when it comes to holding their value, these areas usually appreciate better than others.
Real estate sales trends - What's the time on market? What was the final sales amount compared to the listing price? A lot of data can often be obtained from public records, but a good agent with a login to the local MLS will usually be able to provide a more complete picture.
Appreciation history - Have house prices increased or decreased over the last 5-10 years? Is the neighborhood thought of as desirable because of its location or affordability?
Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a good mixture of work in an area, or does it rely on just one industry?
All these play a part.
Recognizing the factors that affect your home's worth is important.
Get an assessment of your house's value here
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