Understanding Austin home prices

Home values are forever in flux. Over a long enough period of time, house values , by and large, appreciate. But, of course, in real estate there are no guarantees.

When your property appreciates you have a larger asset to borrow against, and you'll produce a bigger profit when you sell. Property values in Austin go up and down for many different reasons, so how will you know what you're buying right now won't depreciate the day after you close? The most important thing to consider is that you pick a REALTOR® in Austin who can identify the factors that affect local prices.

Free Home Valuation

What is the major factor impacting real estate appreciation? Many guess that it's the economy. After all, there are some factors on a national level that change your property's value: unemployment, mortgage rates, quarterly earnings reports, and more. However, your property's value and the features that play the biggest role in its appreciation are particular to the local Austin economy and housing market.

Let John Horton Realty help you with your first home purchase in Austin Access to services - Being close to schools, jobs and amenities like shopping, restaurants and entertainment is important to many families and will greatly influence home values. So when it comes to holding their value, these areas generally appreciate much more reliably than areas lacking key features.

Recent home sales - You should receive data on the recent real estate sales in the areas that you're interested in from your REALTOR®. You'll need to analyze data like time on market and listing price versus selling price.

The appreciation history - Is the neighborhood believed to be desirable because of its location or affordability? Have property prices gone up or down over the past 5-10 years?

The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a fair combination of jobs in an area, or does it rely upon just one industry? Is the blend of commercial and residential development changing? These items play a role.

Learning the factors that influence your property's value is important. Visit this link for an evaluation of your home's value. And if you have any questions, call me at 512-834-1600 or e-mail me .

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