Factors which influence Your Home Appreciation
Need help understanding how Mecklenburg County and surrounding area homes appreciate? Home values are continually changing. Almost always, house values appreciate in the long term. But there is always a certain amount of risk in real estate.
When your home appreciates you have a greater asset to borrow against, and you’ll produce a higher profit when you sell. There are various reasons why property values in Mecklenburg County and surrounding areas go up and down. So, how do you know what you’re investing in presently will appreciate over time? The most important element to consider is that you select an agent who can identify the factors that affect local prices.
What is My Home Worth?
The economy is believed to be the number one factor affecting real estate appreciation. Obviously, there are a lot of issues on a national level that affect your home’s value: unemployment, mortgage rates, inflation, and more. But the most significant issues that decide your home’s value are specific to the local market area economy.
Location in a community – Many of us wish to live in areas with the most useful amenities for families to thrive, such as a close proximity to schools and work. So these regions usually appreciate, or carry their value consistently, year to year.
Prior home sales – How quickly are houses selling? Are sellers having to discount much? Some information can often be retrieved from public records, but a good agent with access to the local MLS will often be able to provide a more complete picture.
Appreciation history – Have house prices risen or declined over the past 5 to 10 years? Is the area thought to be desirable because of its location or affordability?
Local economy – Is there a fair mixture of work in an area, or does it rely on just one industry? Have businesses moved into or away from an area? Are local businesses hiring? All these play a role.
Valuing Your Home
Determining the value of your home is one of the most important things you can do prior to selling your home. It is also very important to get an accurate value for the home you are trying to purchase!
We will use the latest Comparative Market Analysis (CMA) technology and experience within the local real estate market to compile an accurate valuation of your home or prospective home, at no cost or obligation to you.
Please fill out our CMA Request Form and we will contact you as soon as possible with your home valuation.
Showing Your Home
To get your home sold quickly, it’s important that other agents in the area show it to as many potential buyers as possible. When a busy agent is compiling a list of homes to show a buyer, the agent will naturally tend to show those houses that are easiest to gain access to first.
Many homes on the market have “lock boxes” on them. The lock box is a device which holds a key to the home that only qualified local agents can access. Homes that are listed as being “lock box, no appointment needed” will get shown more often than homes listed as “agent has key, call for appointment”. If at all possible, you should let your agent put a lock box on your home for easier showing. If not, you should do anything else you can to make it as convenient as possible for agents to show your home.
Make sure that the home remains clean, picked-up, and ready for showing at a moment’s notice. Keeping the home feeling warm and inviting is of paramount importance; air feeling and smelling fresh, lights turned on, and possibly some calming background music can also set the stage for a good showing.