Understanding Dallas home prices

Real estate values are continually changing. Over a long enough period of time, property values generally go up. But, in real estate there are no guarantees.

When your home appreciates you have more resources to borrow against, and you'll make a larger profit when you sell. But how will you be sure what you're buying this year will appreciate over time? Property values in Dallas change for numerous reasons. Choosing a real estate agent in Dallas who recognizes the factors that drive local prices is the most important factor to consider.

Many are convinced that the economy is the most crucial factor impacting real estate appreciation. After all, there are several factors on a national level that alter your house's value: unemployment, interest rates, quarterly earnings reports, and more. However, your home's value and the elements that play the biggest role in its appreciation are particular to the local Dallas economy and housing market.

Let Jean Pasvar, Realtor-William Davis Realty help you with your first home purchase in Dallas Access to services - Being close to schools, employment and amenities like shopping, restaurants and entertainment is a priority to many buyers and will greatly influence home values. So when it comes to keeping their value, these areas consistently appreciate better than others.

Recent sales - Your real estate agent should provide you with figures on the recent home sales in the districts that you're interested in. You'll want to know average time on market, selling versus listing price and more.

History of appreciation - In the last 5 to 10 years, have house prices gone up or down? Does location or affordability affect how desirable the community is considered?

Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a good mix of job types in an area, or does it depend on just one industry? These items play a part.

It's important to know the factors that affect your property's value. Get an assessment of your property's value here. Please call me at (214) 402-6619 or e-mail me with any questions.

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