Fluctuating home prices in Medway, Massachusetts: What causes this?

Over time, the value of a piece of real estate will fluctuate up and down. Over a long enough period of time, home values generally appreciate. But, of course, in real estate there is always a certain amount of risk.

When your home appreciates you have a larger asset to borrow against, and you'll generate a bigger profit when you sell. Property values in Medway vary for a variety of reasons, so how will you know what you're investing in presently won't depreciate the day after you close? Choosing a real estate agent in Medway who recognizes the factors that influence local prices is the most important part.

Many are convinced that the economy is the biggest factor impacting real estate appreciation. Obviously, there are several factors on a national level that impact your property's value: unemployment, interest rates, inflation, and more. But the most important issues that determine your property's value are specific to the local Medway economy and housing market.

Let Betty McCall-Vernaglia help you with your first home purchase in Medway Location in a community - Many home buyers prefer to live in areas with the most conducive traits for families to develop, like a close proximity to schools, jobs, and work. So when it comes to keeping their value, these regions typically appreciate better than others.

Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? Are sellers having to discount much? A lot of data can often be retrieved from public records, but a good agent with a login to the local MLS will usually provide a more complete picture.

The appreciation history - Is the community thought of as desirable because of its location or affordability? Have property prices increased or decreased over the last 5-10 years?

Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a nice combination of jobs in an area, or does it count on just one industry? All these play a role.

It's worthwhile to be informed about the factors that impact your house's financial worth. Visit this link for an estimation of your home's value. Please call me at (508) 533-6100 or e-mail me with any questions.

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