Real estate prices are constantly moving up and down.
Over a long enough period of time, home values , in most cases, go up.
But, of course, there are no guarantees in real estate.
When your property appreciates you have a more valuable asset to borrow against, and you'll make a better profit when you sell.
Property values in Lewis Center waver for many different reasons, so how can you be sure what you're buying today won't depreciate the day after you close?
It's imperative that you select a real estate agent in Lewis Center who knows the factors that influence local prices.
A lot of people assume that the economy is the biggest factor impacting real estate appreciation.
there are a lot of issues on a national level that change your house's value: unemployment, interest rates, business growth, and more.
However, your home's value and the features that play the biggest role in its appreciation are particular to the local Lewis Center economy and housing market.
Access to services - Proximity to schools and work also have a significant impact on many home buyers' choices.
So these regions consistently appreciate, or keep their value consistently, year to year.
Trends in home sales - Are homes on the market 30, 60, or 90 days or even longer? Are sellers needing to discount much? Some information can be obtained from public records, but a good agent with a login to the local MLS will usually provide a more complete picture.
History of appreciation - In the past 5 to 10 years, have house prices increased or decreased? Does location or affordability affect how desirable the community is thought to be?
The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a fair mix of work in an area, or does it rely upon just one industry? Is the mix of commercial and residential development changing?
These items play a part.