Appreciating property values in Medway

Over time, the worth of a house 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 home appreciates you have more equity to borrow against, and you'll realize a larger profit when you sell. Property values in Medway fluctuate for different reasons, so how do you know what you're buying right now won't depreciate the day after you close? The most important thing is that you pick a REALTOR® in Medway who recognizes the factors that influence local prices.

What is the most influential factor affecting real estate appreciation? Many think that it's the economy. Obviously, interest rates, unemployment, job growth, government programs and a lot of other national determinants have a definite influence on your home's value. However, your property's value and the components that play the biggest role in its appreciation 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 - Most people want homes in the areas with the easiest access to places we go often or everyday, such as our schools, jobs, and shopping. So those communities generally appreciate, or carry their value consistently, year to year.

Recent sales - Your real estate agent should give you data on the recent home sales in the regions that you're asking about. You'll want to know average time on market, selling versus listing price and more.

Appreciation history - Have home prices increased or decreased over the last 5 to 10 years? Is the neighborhood considered desirable because of its location or affordability?

Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a good mix of job types in an area, or does it depend on just one industry? Each of these factors plays a role.

Learning the factors that affect your house's financial worth is important. Get an evaluation of your home's value here. Please call me at (508) 533-6100 or e-mail me with any questions.

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