Property values are constantly moving up and down.
By and large, home values appreciate in the long term.
But, of course, in real estate there are no guarantees.
When your property appreciates you have a more valuable asset to borrow against, and you'll create a larger profit when you sell.
There are many different reasons why property values in Atlanta fluctuate. So, how do you know what you're buying today will appreciate over time?
It's critical that you choose an agent in Atlanta who can identify the factors that affect local prices.
The economy is believed to be the greatest factor impacting real estate appreciation.
interest rates, unemployment, job growth, government programs and a handful of other national determinants have a measurable impact on your house's value.
But the most important issues that figure your property's value depend on the local Atlanta economy and housing market.
Location in a community - Proximity to schools and work also have a significant impact on many home buyers' choices.
So these regions usually appreciate, or hold their value, best.
Recent home sales - You should receive statistics on the recent real estate sales in the neighborhoods that you're interested in from your REALTOR®. You'll want to analyze things like how long a house stays on the market and seller discounts.
The appreciation history - Is the area believed to be desirable because of its location or affordability? Have house prices risen or declined over the last 5-10 years?
Local economy - Is there a nice combination of jobs in an area, or does it count on just one industry? Have companies moved into or away from an area? Are local companies hiring?
All these play a role.
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