What drives property values to move up and down?

Over time, the value of a piece of real estate will go up and down. Over a long enough period of time, property values , by and large, go up. 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. But how will you know what you're investing in now will appreciate over time? Property values in move up and down for various reasons. Choosing an agent who knows the factors that influence local prices is the most important aspect.

  Please email me @ mwhite@royalrealestate.net for a free market analysis  


Many think that the economy is the major factor affecting real estate appreciation. After all, interest rates, unemployment, business growth, government programs and several other national factors have a measurable impact your home's value. But the most influential issues that figure your home's value are particular to the local economy and housing market.

Let Royal Real Estate Of IL LLC help you with your first home purchase in Saint Charles Access to services - Many home buyers prefer to live in regions with the most helpful amenities for families to grow, like a close proximity to schools, jobs, and work. So when it comes to holding their value, these areas usually appreciate much more reliably than areas lacking key features.

The latest home sales - You should receive reports on the recent real estate sales in the districts that you'd like to live in from your real estate agent. You'll need to learn data like how long a house stays on the market and seller discounts.

Appreciation history - Have home prices gone up or down over the last 5 to 10 years? Is the neighborhood believed to be desirable because of its location or affordability?

The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a nice mixture of work in an area, or does it rely upon just one industry? Is the blend of commercial and residential development changing? Each of these things plays a part.

It's smart to understand the factors that affect your home's value. Get an estimation of your property's value here. Please call me at 630-377-1114 or e-mail me with any questions.

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