What drives property values in Austin to move up and down?

Over time, the worth of a property will fluctuate up and down. Over a long enough period of time, house values , in most cases, go up. But, of course, there are no "sure things" in real estate.

When your property appreciates you have more equity to borrow against, and you'll produce a higher profit when you sell. Property values in Austin move up and down for different reasons, so how will you be sure what you're investing in this year won't depreciate the day after you close? It's critical that you choose a REALTOR® in Austin who can identify the factors that affect local prices.

What is my home worth?

The economy is assumed to be the top factor impacting real estate appreciation. It goes without saying that there are a lot of issues on a national level that affect your home's value: unemployment, mortgage rates, consumer confidence, and more. However, your house's value and the things that play the most significant role in its appreciation are particular to the local Austin economy and housing market.

Let John Horton Realty help you with your first home purchase in Austin Access to services - Proximity to schools, jobs, and amenities also have a huge influence on almost all home buyers' choices. So these regions typically appreciate, or carry their value consistently, year to year.

Recent sales - Your real estate agent should provide you with statistics on the recent real estate sales in the areas 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 thought of as desirable because of its location or affordability? Have property prices increased or decreased over the past 5 to 10 years?

Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a nice mix of work in an area, or does it rely upon just one industry? Each of these pieces plays a role.

Identifying the factors that influence your home's market price is important. Visit this link for an assessment of your home's value. Please call me at 512-834-1600 or e-mail me with any questions.

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