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Understanding Charlotte property appreciationOver time, the value of a home will go up and down. In most cases, home values appreciate in the long term. But there are no guarantees in real estate.
When your house appreciates you have a greater asset to borrow against, and you get a higher profit when you sell. Property values in Charlotte vary for different reasons, so how will you be sure what you're buying presently won't depreciate the day after you close? The most important element is that you go with a REALTOR® in Charlotte who understands the factors that drive local prices.
Many think that the economy is the most critical factor affecting real estate appreciation. Naturally, mortgage rates, unemployment, job growth, government programs and quite a few other national determinants can always alter your property's value. But the most significant factors that decide your house's value are specific to the local Charlotte economy and housing market.
 Access to services - Most people want homes in the areas with the most useful places we go often or everyday, such as our schools, jobs, and shopping. So when it comes to holding their value, these regions often appreciate much more reliably than areas lacking key features.
Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? Are sellers needing to discount much? A lot of data can often be retrieved from public records, but a good agent with a login to the local MLS will usually be able to provide a more complete picture.
The appreciation history - Is the area thought to be desirable because of its location or affordability? Have property prices increased or decreased over the past 5 to 10 years?
The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a good blend of business in an area, or does it depend on just one industry? Is the mix of commercial and residential zoning changing? All these play a part.
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It's vital to understand the factors that impact your home's value. Visit this link for an assessment of your property's value. Call me at 7043332260 or e-mail me if you have any questions at all. I'd love to hear from you. |
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Charlotte's premiere consultant for Real Estate Sales of Homes, Sales of Land and Investment Property. We also have a team of designers with over 20 years experience in Interior Design, Home Staging and Renovation Design Build.
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