Understanding Huntsville home prices

Over time, the worth of a home will go up and down. Over a long enough period of time, property values , by and large, appreciate. But, in real estate there are no "sure things".

When your house appreciates you have more resources to borrow against, and you'll generate a bigger profit when you sell. Property values in Huntsville shift for a variety of reasons, so how do you know what you're investing in right now won't depreciate the day after you close? The most important aspect is that you choose a real estate agent in Huntsville who is familiar with the factors that influence local prices.

What is the most influential factor affecting real estate appreciation? Many guess that it's the economy. It goes without saying that there are some factors on a national level that impact your home's value: unemployment, mortgage rates, consumer confidence, and more. However, your home's value and the aspects that play the most significant role in its appreciation are specific to the local Huntsville economy and housing market.

Let Landa Pennington help you with your first home purchase in Huntsville Location in a community - Proximity to schools and jobs also have a great influence on most home buyers' decisions. So when it comes to retaining their value, these regions generally appreciate the best.

Real estate sales trends - How quickly are homes selling? What was the selling price compared to the asking price? A lot of data can often be obtained from public records, but a good agent with access to the local MLS will often be able to provide a more complete picture.

The appreciation history - Is the neighborhood believed to be desirable because of its location or affordability? Have property prices risen or declined over the last 5-10 years?

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

Recognizing the factors that impact your house's price is important. Get an assessment of your home's value here. Call me at (256) 656-4741 or e-mail me if you have any questions at all. I'd love to hear from you.

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