Home values are constantly moving up and down.
Over a long enough period of time, property values , for the most part, go up.
But, of course, there are no guarantees in real estate.
When your house appreciates you have more equity to borrow against, and you'll produce a bigger profit when you sell.
But how will you be sure what you're purchasing right now will appreciate over time? Property values in Medway rise and fall for different reasons.
Choosing a real estate agent in Medway who understands the factors that influence local prices is the most important thing.
What is the greatest factor impacting real estate appreciation? Many think that it's the economy.
Obviously,
interest rates, unemployment, job growth, government programs and quite a few other national factors have a measurable effect on your property's value.
But the most important issues that decide your house's value are particular to the local Medway economy and housing market.
Access to services - Many of us want to live in areas with the most useful factors for families to shine, such as a close proximity to schools, jobs, and work.
So when it comes to keeping their value, these regions usually appreciate the best.
Real estate sales trends - How quickly are houses selling? What was the selling price compared to the asking price? Some information can be retrieved from public records, but a good agent with access to the local MLS will usually be able to provide a more complete picture.
Appreciation history - Have home prices increased or decreased over the past 5 to 10 years? Is the community considered desirable because of its location or affordability?
Local economy - Is there a fair combination of work in an area, or does it rely on just one industry? Have companies moved into or away from an area? Are local businesses hiring?
These items play a role.