What drives property values in Englewood to move up and down?
Over time, the value of a home will fluctuate up and down.
Over a long enough period of time, home values , in most cases, appreciate.
But, of course, there are no "sure things" in real estate.
When your home appreciates you have more equity to borrow against, and you'll generate a bigger profit when you sell.
But how can you be sure what you're buying this year will appreciate over time? Property values in Englewood change for numerous reasons.
It's important that you go with a real estate agent in Englewood who knows the factors that influence local prices.
The economy is thought to be the biggest factor impacting real estate appreciation.
mortgage rates, employment, business growth, government programs and many other national factors have a noticeable impact on your house's value.
However, your house's value and the things that play the most significant role in its appreciation are particular to the local Englewood economy and housing market.
Access to services - People typically want homes in the regions with the easiest access to features, such as our jobs and schools.
So these regions generally appreciate, or keep their value consistently, year to year.
Recent sales - Your REALTOR® should provide you with information on the recent home sales in the areas that you're interested in. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the past 5-10 years, have house prices risen or declined? Does location or affordability affect how desirable the community is believed to be?
The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a nice blend of job types in an area, or does it rely on just one industry? Is the mix of commercial and residential zoning changing?
Each of these things plays a role.
It's worthwhile to learn about the factors that play into your house's financial worth.
Visit this link
for an assessment of your house's value.
Have any questions? Please feel free to call me at (303) 843-1545 or e-mail me