Mifflintown home prices: Need some help understanding why they appreciate?

Property prices are constantly moving up and down. House values appreciate in the long term almost always. But, in real estate there is always a certain amount of risk.

When your home appreciates you have a greater asset to borrow against, and you'll produce a larger profit when you sell. Property values in Mifflintown move up and down for numerous reasons, so how will you know what you're buying presently won't depreciate the day after you close? The most important thing to consider is that you pick a REALTOR® in Mifflintown who is familiar with the factors that affect local prices.

A lot of people are convinced that the economy is the greatest factor affecting real estate appreciation. Naturally, there are a handful of issues on a national level that affect your property's value: unemployment, interest rates, inflation, and more. But the most important things that decide your property's value are particular to the local Mifflintown economy and housing market.

Let Jack Gaughen Network Services Hower & Associates help you with your first home purchase in Mifflintown Access to services - Most people want homes in the areas with the most accommodating amenities, like our schools and work. So those regions usually appreciate, or carry their value consistently, year to year.

The latest home sales - You should receive facts and figures on the recent real estate sales in the neighborhoods that you'd like to live in from your real estate agent. You'll need to analyze figures like time on market and asking price versus selling price.

Appreciation history - Have property prices gone up or down over the last 5-10 years? Is the community thought to be 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 good mix of business in an area, or does it rely upon just one industry? Is the mix of commercial and residential development changing? All these play a part.

Recognizing the factors that impact your property's value is important. Click here to get an evaluation of your property's value. Call me at 717-436-8200 or e-mail me if you have any questions at all. I'd love to hear from you.