What drives property values in Clayton to move up and down?

Home values are forever in flux. Property values appreciate in the long term in most cases. But, of course, there is always a certain amount of risk in real estate.

When your home appreciates you have more equity to borrow against, and you'll realize a higher profit when you sell. Property values in Clayton fluctuate for many different reasons, so how do you know what you're purchasing this year won't depreciate the day after you close? The most important element is that you go with a real estate agent in Clayton who is familiar with the factors that drive local prices.

Many are convinced that the economy is the most important factor impacting real estate appreciation. Clearly, there are several issues on a national level that change your house's value: unemployment, mortgage rates, inflation, and more. But the most important issues that decide your home's value depend on the local Clayton economy and housing market.

Let Rhodes & Associates Realty help you with your first home purchase in Clayton Location in a community - Many consumers choose to live in districts with the most convenient components for families to thrive, such as a close proximity to jobs and schools. So these regions often appreciate, or retain their value, best.

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

History of appreciation - In the past 5 to 10 years, have home prices increased or decreased? Does location or affordability affect how desirable the community is thought to be?

Local economy - Is there a good mixture of work in an area, or does it rely upon just one industry? Have businesses moved into or away from an area? Are local businesses hiring? All these play a part.

Identifying the factors that impact your home's worth is important. Get an evaluation of your property's value here. Please call me at (314) 252-8955 or e-mail me with any questions.

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