Appreciating property values in Northern Virginia

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

When your property appreciates you have more equity to borrow against, and you'll make a bigger profit when you sell. Property values in Northern Virginia move up and down for many different reasons, so how will you be sure what you're purchasing right now won't depreciate the day after you close? It's critical that you select an agent in Northern Virginia who is familiar with the factors that drive local prices.

Many think that the economy is the most influential factor affecting real estate appreciation. Obviously, interest rates, unemployment, business growth, government programs and some other national determinants have a measurable influence on your property's value. However, your house's value and the components that play the most significant role in its appreciation are particular to the local Northern Virginia economy and housing market.

Let Avenue Realty Group help you with your first home purchase in Alexandria Location in a community - Proximity to schools and jobs also have a great effect on most home buyers' choices. So when it comes to retaining their value, these communities usually appreciate better than others.

Recent home sales - You should receive data on the recent real estate sales in the regions that you're interested in from your agent. You'll want to know things like how long a house stays on the market and listing price as opposed to selling price.

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

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

Identifying the factors that influence your house's financial worth is important. Get an estimation of your property's value here. Call me at 703.909.6067 or e-mail me if you have any questions at all. We'd love to hear from you.

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Fairfax Realty of Tysons

8300 Boone Blvd. Suite 830
Vienna, VA 22182