Understanding property appreciation in Woodbridge

Property values are forever in flux. Home values appreciate in the long term in most cases. But, of course, in real estate there is always a certain amount of risk.

When your property appreciates you have a larger asset to borrow against, and you'll generate a bigger profit when you sell.But how can you be sure what you're investing in this year will appreciate over time? Property values in Woodbridge vary for numerous reasons.The most important aspect to consider is that you choose an agent in Woodbridge who is familiar with the factors that drive local prices.

  


What is the most important factor impacting real estate appreciation? Many believe that it's the economy.After all, there are numerous factors on a national level that affect your house's value: unemployment, interest rates, business growth, and more.But the most significant things that determine your property's value are particular to the local Woodbridge economy and residential market.

Let Century 21 New Millennium help you with your first home purchase in Woodbridge Access to services - Proximity to schools and work also have a significant impact on all home buyers' choices.So those areas often appreciate, or keep their value consistently, year to year.

Recent sales - Your REALTOR® should give you facts and figures on the recent real estate sales in the districts that you're asking about. You'll want to know average time on market, selling versus listing price and more.

The appreciation history - Is the community thought of as desirable because of its location or affordability? Have house prices risen or declined over the last 5-10 years?

The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a nice blend of job types in an area, or does it rely upon just one industry? Is the mix of commercial and residential development changing?All these play a part.

Recognizing the factors that impact your house's market price is important.Get an assessment of your house's value here.Call me at (703) 491-9570 or e-mail me if you have any questions at all. I'd love to hear from you.

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