Home values are forever in flux.
Property values appreciate in the long term in most cases.
But, in real estate there are no "sure things".
When your home appreciates you have a more valuable asset to borrow against, and you'll create a bigger profit when you sell.
There are different reasons why property values in Fort Worth vary. So, how will you know what you're purchasing right now will appreciate over time?
It's critical that you choose an agent in Fort Worth who recognizes the factors that drive local prices.
What is the greatest factor affecting real estate appreciation? Many guess that it's the economy.
It goes without saying that
interest rates, employment, business growth, government programs and a handful of other national factors have a definite effect on your property's value.
However, your property's value and the things that play the most significant role in its appreciation depend on the local Fort Worth economy and housing market.
Location in a community - Proximity to jobs and schools also have a great effect on many home buyers' decisions.
So those regions generally appreciate, or retain their value consistently, year to year.
Recent sales - Your REALTOR® should give you figures on the recent home sales in the neighborhoods that you'd like to live in. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the last 5-10 years, have home prices risen or declined? Does location or affordability affect how desirable the area is considered?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a nice blend of jobs in an area, or does it depend on just one industry?
All these play a part.
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