|
|
|
|
Fluctuating home prices in Montclair, Virginia: What causes this?
Over time, the value of a piece of real estate will go up and down.
Over a long enough period of time, home values almost always appreciate.
But, of course, in real estate there are no "sure things".
When your house appreciates you have a larger asset to borrow against, and you'll see a greater profit when you sell.
But how will you know what you're purchasing right now will appreciate over time? Property values in Montclair move up and down for various reasons.
It's important that you choose a REALTOR® in Montclair who knows the factors that affect local prices.
A lot of people guess that the economy is the most critical factor impacting real estate appreciation.
Clearly,
there are numerous factors on a national level that impact your property's value: unemployment, mortgage rates, business growth, and more.
But the most influential things that determine your house's value depend on the local Montclair economy and housing market.
Access to services - Being close to schools, work and amenities like shopping, restaurants and entertainment is a big deal to a lot of buyers and will greatly influence home values.
So those communities usually appreciate, or keep their value consistently, year to year.
Real estate sales trends - What's the time on market? What was the final sales amount compared to the listing price? A lot of data can be retrieved from public records, but a good agent with access to the local MLS will often provide a more complete picture.
The appreciation history - Is the neighborhood considered desirable because of its location or affordability? Have house prices risen or declined over the last 5 to 10 years?
Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a fair combination of jobs in an area, or does it count on just one industry?
All these play a part.
 |
 |
 |
Identifying the factors that influence your house's price is important.
Click here to receive an estimation of your house's value.
And if you have any questions, call me at (703) 730-2272 or e-mail me .
| |
| |
 |
|
|
|
 
DALE BARR PH: 703 730 2272
is a Licensed Agent with
BARCO
Ph:/Fax: 703 730 2272
15786 Moncure Ct.
Montclair, Virginia 22025
|
