Understanding Sayreville property appreciation

Property values are forever in flux. Over a long enough period of time, home values almost always appreciate. But, of course, there is always a certain amount of risk in real estate.

When your property appreciates you have a more valuable asset to borrow against, and you'll see a bigger profit when you sell. Property values in Sayreville change for many different reasons, so how will you be sure what you're purchasing this year won't depreciate the day after you close? The most important element is that you go with a REALTOR® in Sayreville who can identify the factors that drive local prices.

   


What is the number one factor impacting real estate appreciation? Many guess that it's the economy. Naturally, interest rates, unemployment, business growth, government programs and several other national factors have a measurable influence your home's worth. But the most influential things that decide your property's value are specific to the local Sayreville economy and housing market.

Let Dineen Realty help you with your first home purchase in Sayreville Access to services - Proximity to schools and work also have a significant affect on many home buyers' choices. So these areas consistently 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 asking price? A lot of data can often be obtained from public records, but a good agent with access to the local MLS will often provide a more complete picture.

History of appreciation - In the last 5 to 10 years, have house prices increased or decreased? Does location or affordability affect how desirable the community is thought of as?

The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a nice blend of business in an area, or does it count on just one industry? Is the mix of commercial and residential development changing? All these play a part.

It's important to know the factors that affect your property's price. Get an evaluation of your property's value here. Have any questions? Please feel free to call us at 732-613-9300 or e-mail me.

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