Over time, the value of a property will fluctuate up and down.
For the most part, home values appreciate in the long term.
But there are no "sure things" in real estate.
When your house appreciates you have a greater asset to borrow against, and you'll see a bigger profit when you sell.
But how do you know what you're investing in today will appreciate over time? Property values in Swainsboro fluctuate for various reasons.
It's imperative that you go with a REALTOR® in Swainsboro who can identify the factors that affect local prices.
What is the most critical factor impacting real estate appreciation? Many guess that it's the economy.
It goes without saying that
there are numerous issues on a national level that change your home's value: unemployment, interest rates, business growth, and more.
However, your home's value and the components that play the most significant role in its appreciation depend on the local Swainsboro economy and housing market.
Location in a community - Many consumers wish to live in regions with the best and most convenient features for households to succeed, such as a close proximity to jobs and schools.
So when it comes to holding their value, these regions often appreciate better than others.
Real estate sales trends - What's the time on market? What was the selling price versus the asking price? Some information can be retrieved from public records, but a good agent with a login to the local MLS will usually provide a more complete picture.
Appreciation history - Have house prices risen or declined over the past 5 to 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 fair mix of work in an area, or does it depend on just one industry? Is the blend of commercial and residential zoning changing?
All these play a part.