What causes Waterville home prices to fluctuate?

Over time, the value of a house will fluctuate up and down. Property values appreciate in the long term almost always. But, of course, in real estate there are no guarantees.

When your home appreciates you have a larger asset to borrow against, and you make a larger profit when you sell. Property values in Waterville go up and down for many different reasons, so how can you be sure what you're purchasing now won't depreciate the day after you close? The most important aspect is that you pick an agent in Waterville who can identify the factors that influence local prices.

A lot of people believe that the economy is the biggest factor affecting real estate appreciation. Clearly, there are a handful of issues on a national level that change your home's value: unemployment, interest rates, consumer confidence, and more. But the most significant factors that decide your house's value depend on the local Waterville economy and residential market.

Let Coldwell Banker Plourde Real Estate help you with your first home purchase in Waterville Location in a community - Proximity to schools and work also have a great impact on all home buyers' choices. So those areas generally appreciate, or retain their value, best.

Recent home sales - You should receive reports on the recent real estate sales in the neighborhoods that you're asking about from your agent. You'll need to analyze 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 to be desirable because of its location or affordability? Have property prices gone up or down over the last 5 to 10 years?

Local economy - Is there a nice combination of work in an area, or does it count on just one industry? Have businesses moved into or away from an area? Are local companies hiring? These items play a role.

Identifying the factors that impact your home's value is important. Visit this link for an assessment of your home's value. Call me at (207) 660-4007 or e-mail me if you have any questions at all. I'd love to hear from you.

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