Property values are forever in flux. Over a long enough period of time, home values, in most cases, appreciate. But, of course, there are no guarantees in real estate.
When your house appreciates you have a greater asset to borrow against, and you’ll produce a bigger profit when you sell. There is a variety of reasons why property values in Pitt County change. So, how will you know what you’re investing in today will appreciate over time? Choosing a REALTOR® in Pitt County who can identify the factors that affect local prices is the most important thing.
Many think that the economy is the greatest factor affecting real estate appreciation. Naturally, interest rates, unemployment, job growth, government programs and a lot of other national determinants have a noticeable impact on your property’s value. However, your home’s value and the components that play the most significant role in its appreciation are particular to the local Pitt County economy and housing market.
Let HOME AT LAST Realty Solutions help you with your first home purchase in Pitt County Access to services – Many of us decide to live in districts with the most accommodating factors for households to shine, such as a close proximity to jobs and schools. So when it comes to keeping their value, these regions typically appreciate the best.
Recent home sales – You should receive facts and figures on the recent real estate sales in the areas that you’re asking about from your REALTOR®. You’ll need to learn data like how long a house stays on the market and asking price as opposed to selling price.
Appreciation history – Have property prices increased or decreased over the past 5-10 years? Is the area 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 fair mix of work in an area, or does it rely on just one industry? All these play a part.