Fluctuating home prices in Metter, Georgia: What causes this?
Over time, the value of a home will go up and down. Usually, home values appreciate in the long term. But, of course, there are no "sure things" in real estate.
When your house appreciates you have more equity to borrow against, and you get a bigger profit when you sell. Property values in Metter go up and down for many different reasons, so how will you know what you're purchasing presently won't depreciate the day after you close? The most important element to consider is that you choose a real estate agent in Metter who is familiar with the factors that drive local prices.
What is the top factor impacting real estate appreciation? Many believe that it's the economy. Obviously, interest rates, unemployment, job growth, government programs and many other national determinants have a noticeable impact on your property's worth. However, your home's value and the components that play the biggest role in its appreciation are specific to the local Metter economy and housing market.
Location in a community - Proximity to jobs and schools also have a huge impact on most home buyers' decisions. So these communities generally appreciate, or retain their value consistently, year to year.
Recent sales - Your agent should give you information on the recent real estate sales in the regions that you're interested in. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the neighborhood thought of as desirable because of its location or affordability? Have house prices increased or decreased over the past 5 to 10 years?
The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a good combination of job types in an area, or does it rely upon just one industry? Is the mix of commercial and residential zoning changing? All these play a part.
It's worthwhile to be informed about the factors that impact your house's value. Click here
to get an evaluation of your property's value. Call us at (912) 685-5045 or e-mail us
if you have any questions at all. We'd love to hear from you.