Real estate values are constantly moving up and down.
Over a long enough period of time, property values typically appreciate.
But, in real estate there are no "sure things".
When your property appreciates you have a bigger asset to borrow against, and you'll produce a better profit when you sell.
But how do you know what you're investing in today will appreciate over time? Property values in Rock Hill rise and fall for various reasons.
The most important factor is that you go with an agent in Rock Hill who understands the factors that drive local prices.
The economy is believed to be the most influential factor affecting real estate appreciation.
there are a lot of issues on a national level that change your house's value: unemployment, mortgage rates, quarterly earnings reports, and more.
However, your house's value and the aspects that play the most significant role in its appreciation depend on the local Rock Hill economy and housing market.
Access to services - Many consumers decide to live in districts with the most helpful components for families to do well, like a close proximity to jobs and schools.
So when it comes to keeping their value, these areas typically appreciate better than others.
The latest home sales - Are homes on the market 30, 60, or 90 days or even longer? What was the final sales amount compared to the listing price? A lot of data can be obtained from public records, but a good agent with a login to the local MLS will usually be able to provide a more complete picture.
The appreciation history - Is the neighborhood thought to be desirable because of its location or affordability? Have house prices gone up or down over the past 5 to 10 years?
The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a nice mix of business in an area, or does it rely on just one industry? Is the mix of commercial and residential development changing?
All these play a part.