Real estate values are constantly moving up and down.
House values appreciate in the long term for the most part.
But, in real estate there is always a certain amount of risk.
When your house appreciates you have more resources to borrow against, and you'll create a larger profit when you sell.
There are numerous reasons why property values in Clayton rise and fall. So, how will you know what you're buying now will appreciate over time?
It's critical that you select a real estate agent in Clayton who is familiar with the factors that influence local prices.
What is the major factor affecting real estate appreciation? Many guess that it's the economy.
It goes without saying that
there are a lot of factors on a national level that change your home's value: unemployment, interest rates, inflation, and more.
But the most significant issues that determine your home's value depend on the local Clayton economy and housing market.
Access to services - Convenient access to schools, work and amenities like shopping, restaurants and entertainment is important to a lot of families and will greatly influence home values.
So when it comes to keeping their value, these regions typically appreciate better than others.
Recent sales - Your REALTOR® should give you stats on the recent real estate sales in the districts that you're interested in. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have property prices risen or declined over the past 5-10 years? Is the neighborhood thought of as desirable because of its location or affordability?
The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a nice mixture of work in an area, or does it rely upon just one industry? Is the blend of commercial and residential zoning changing?
These items play a part.