Appreciating property values in Dallas

Home values are continually changing. House values appreciate in the long term in most cases. But there are no "sure things" in real estate.

When your property appreciates you have a bigger asset to borrow against, and you'll produce a greater profit when you sell. Property values in Dallas move up and down for many different reasons, so how do you know what you're buying this year won't depreciate the day after you close? It's imperative that you select a real estate agent in Dallas who knows the factors that drive local prices.

What is the biggest factor affecting real estate appreciation? Many believe that it's the economy. Naturally, there are numerous factors on a national level that influence your property's value: unemployment, interest rates, the stock market, and more. However, your property's value and the aspects that play the most significant 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 - Proximity to work and schools also have a significant influence on many home buyers' choices. So when it comes to keeping their value, these communities usually appreciate better than others.

Recent home sales - You should receive statistics on the recent real estate sales in the regions that you'd like to live in from your real estate agent. You'll need to analyze things like how long a house stays on the market and listing price versus selling price.

Appreciation history - Have property prices increased or decreased over the last 5-10 years? Is the neighborhood considered desirable because of its location or affordability?

The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a fair mix of job types in an area, or does it rely on just one industry? Is the mix of commercial and residential development changing? These items play a role.

It's important to be informed about the factors that affect your property's price. Click here to receive an assessment of your house's value. Call me at (214) 402-6619 or e-mail me if you have any questions at all. I'd love to hear from you.

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