Atlanta home prices: Need some help understanding why they appreciate?
Property values are forever in flux. Property values appreciate in the long term almost always. But, of course, in real estate there are no guarantees.
When your house appreciates you have a greater asset to borrow against, and you'll realize a greater profit when you sell. Property values in Atlanta shift for numerous reasons, so how can you be sure what you're investing in this year won't depreciate the day after you close? It's critical that you go with an agent in Atlanta who recognizes the factors that drive local prices.
What is the greatest factor impacting real estate appreciation? Many think that it's the economy. Clearly, interest rates, employment, job growth, government programs and many other national determinants have a noticeable influence on your house's worth. But the most important things that determine your property's value depend on the local Atlanta economy and residential market.
Location in a community - Proximity to schools and work also have a major impact on most home buyers' decisions. So those regions generally appreciate, or retain their value consistently, year to year.
Recent sales - Your agent should give you 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.
Appreciation history - Have home prices increased or decreased over the last 5 to 10 years? Is the neighborhood considered desirable because of its location or affordability?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a good combination of work in an area, or does it count on just one industry? Is the mix of commercial and residential zoning changing? All these play a part.
Identifying the factors that affect your home's financial worth is important. Click here
to receive an estimation of your home's value. Please call me at (404) 419-3500 or e-mail me
with any questions.
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