Understanding Centennial property appreciation
Over time, the worth of a home will go up and down.
Over a long enough period of time, property values usually go up.
But, of course, 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 realize a higher profit when you sell.
Property values in Centennial go up and down for many different reasons, so how can you be sure what you're investing in today won't depreciate the day after you close?
The most important aspect to consider is that you pick an agent in Centennial who understands the factors that affect local prices.
Many believe that the economy is the top factor affecting real estate appreciation.
there are numerous issues on a national level that affect your home's value: unemployment, mortgage rates, consumer confidence, and more.
But the most important issues that figure your property's value depend on the local Centennial economy and housing market.
Access to services - Many of us decide to live in areas with the most conducive features for homes to do well, such as a close proximity to schools and work.
So those communities usually appreciate, or carry their value, best.
Recent sales - Your REALTOR® should give you facts and figures on the recent real estate sales in the districts that you're asking about. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the area considered desirable because of its location or affordability? Have home prices risen or declined over the last 5 to 10 years?
The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a good blend of business in an area, or does it rely on just one industry? Is the blend of commercial and residential development changing?
All these play a role.
Recognizing the factors that impact your house's financial worth is important.
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for an evaluation of your home's value.
And if you have any questions, call us at 303-284-3609 or e-mail us