Home values are continually changing. Almost always, home values appreciate in the long term. But there is always a certain amount of risk in real estate, of course.
When your property appreciates you have a more valuable asset to borrow against, and you'll see a bigger profit when you sell. There are various reasons why property values in Atlanta go up and down. So, how will you know what you're investing in presently will appreciate over time? The most important element to consider is that you pick a real estate agent in Atlanta who can identify the factors that affect local prices.
A lot of people believe that the economy is the most influential factor impacting real estate appreciation. After all, there are a lot of factors on a national level that alter your house's value: unemployment, mortgage rates, the stock market, and more. But the most important issues that determine your home's value are specific to the local Atlanta economy and housing market.
Location in a community - Being close to schools, jobs and amenities like shopping, restaurants and entertainment is a priority to a lot of families and will greatly influence home values. So when it comes to keeping their value, these regions usually appreciate the best.
Trends in home sales - How quickly are houses selling? What was the selling price compared to the listing price? Some information can often be retrieved from public records, but a good agent with access to the local MLS will usually provide a more complete picture.
Appreciation history - Have home prices risen or declined over the past 5-10 years? Is the neighborhood believed to be desirable because of its location or affordability?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a fair mix of jobs in an area, or does it rely on just one industry? Is the mix of commercial and residential zoning changing? Each of these elements plays a role.
Identifying the factors that affect your house's market price is important. Visit this link for an estimation of your home's value. Call me at (404) 373-8924 or e-mail me if you have any questions at all. I'd love to hear from you.