Real estate values are forever in flux.
Over a long enough period of time, property values almost always go up.
But, of course, there is always a certain amount of risk in real estate.
When your house appreciates you have more equity to borrow against, and you'll generate a larger profit when you sell.
Property values in Edmond rise and fall for various reasons, so how can you be sure what you're purchasing today won't depreciate the day after you close?
Choosing an agent in Edmond who is familiar with the factors that influence local prices is the most important thing to consider.
The economy is assumed to be the most influential factor impacting real estate appreciation.
there are a lot of factors on a national level that change your property's value: unemployment, interest rates, business growth, and more.
However, your property's value and the components that play the biggest role in its appreciation are particular to the local Edmond economy and housing market.
Access to services - Proximity to schools and jobs also have a major influence on almost all home buyers' decisions.
So when it comes to retaining their value, these regions typically appreciate better than others.
Real estate sales trends - What's the time on market? Are sellers needing to discount much? Some information can often be retrieved 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 property prices increased or decreased? Does location or affordability affect how desirable the neighborhood is considered?
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 companies hiring?
These items play a part.
Want to know if a home is still on the market, or if the price has changed? We can help. Simply fill out the information below and with no obligation to you we'll get back to you with your requested information. We guarantee your privacy.