Understanding Thomasville home pricesReal estate values are constantly moving up and down. Normally, home values appreciate in the long term. But there are no guarantees in real estate.
When your house appreciates you have a bigger asset to borrow against, and you'll realize a larger profit when you sell. But how will you be sure what you're purchasing now will appreciate over time? Property values in Thomasville move up and down for numerous reasons. The most important part is that you go with a REALTOR® in Thomasville who recognizes the factors that affect local prices.
The economy is believed to be the most influential factor affecting real estate appreciation. After all, there are several issues on a national level that impact your home's value: unemployment, interest rates, consumer confidence, and more. However, your property's value and the factors that play the most significant role in its appreciation are specific to the local Thomasville economy and housing market.
Location in a community - Being close to schools, jobs and amenities like shopping, restaurants and entertainment is important to many families and will greatly influence home values. So those communities generally appreciate, or retain their value consistently, year to year.
Recent sales - Your REALTOR® should provide you with statistics on the recent home sales in the districts that you'd like to live in. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have home prices risen or declined over the past 5-10 years? Is the area thought to be desirable because of its location or affordability?
Local economy - Is there a nice blend of work in an area, or does it rely on just one industry? Have companies moved into or away from an area? Are local businesses hiring? Each of these factors plays a role.
|Identifying the factors that influence your property's market price is important. Get an assessment of your property's value here. Please call us at 336-475-5025 or e-mail us with any questions.|