Understanding Rock Hill property appreciation

Home prices are forever in flux. Over a long enough period of time, home values , by and large, go up. But, of course, in real estate there are no "sure things".

When your home appreciates you have more equity to borrow against, and you'll make a greater profit when you sell. Property values in Rock Hill waver for a variety of reasons, so how do you know what you're buying now won't depreciate the day after you close? Choosing a REALTOR® in Rock Hill who can identify the factors that influence local prices is the most important element.

Many are convinced that the economy is the biggest factor impacting real estate appreciation. After all, there are many issues on a national level that influence your home's value: unemployment, mortgage rates, the stock market, and more. But the most important issues that decide your house's value are specific to the local Rock Hill economy and residential market.

Let Petrovich Realty help you with your first home purchase in Rock Hill Access to services - Being close to schools, employment and amenities like shopping, restaurants and entertainment is a big deal to many us and will greatly influence home values. So those regions generally appreciate, or retain their value, best.

Recent sales - Your real estate agent should give you statistics on the recent home sales in the regions that you're interested in. You'll want to know average time on market, selling versus listing price and more.

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 last 5-10 years?

Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a good mix of work in an area, or does it count on just one industry? All these play a role.

Identifying the factors that impact your home's worth is important. Click here to receive an estimation of your property's value. Please call me at 803-524-2530 or e-mail me with any questions.

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