Property prices are constantly moving up and down.
Over a long enough period of time, house values , by and large, appreciate.
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 create a higher profit when you sell.
But how will you be sure what you're purchasing this year will appreciate over time? Property values in Texoma vary for many different reasons.
Choosing a real estate agent in Texoma who can identify the factors that drive local prices is the most important part.
What is the most influential factor impacting real estate appreciation? Many are convinced that it's the economy.
interest rates, unemployment, job growth, government programs and a handful of other national factors have a noticeable influence on your property's worth.
But the most important factors that figure your house's value are particular to the local Texoma economy and residential market.
Access to services - Most people want homes in the areas with the most convenient amenities, such as our schools and jobs.
So these communities generally appreciate, or hold their value, best.
Real estate sales trends - What's the time on market? What was the final sales amount versus the asking price? Some information can often be retrieved from public records, but a good agent with access to the local MLS will often be able to provide a more complete picture.
History of appreciation - In the last 5-10 years, have property prices increased or decreased? Does location or affordability affect how desirable the community is thought of as?
Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a good mixture of business in an area, or does it depend on just one industry?
These items play a role.