Waterville home prices: Need some help understanding why they appreciate?

Property prices are forever in flux. Home values appreciate in the long term normally. But, in real estate there are no guarantees.

When your home appreciates you have a bigger asset to borrow against, and you'll make a better profit when you sell. But how will you know what you're investing in now will appreciate over time? Property values in Waterville fluctuate for different reasons. Choosing an agent in Waterville who is familiar with the factors that influence local prices is the most important thing.

What is the most crucial factor impacting real estate appreciation? Many assume that it's the economy. After all, there are a lot of factors on a national level that alter your property's value: unemployment, mortgage rates, business growth, and more. However, your house's value and the elements that play the most significant role in its appreciation are particular to the local Waterville economy and housing market.

Let Coldwell Banker Plourde Real Estate help you with your first home purchase in Waterville Location in a community - Many of us prefer to live in regions with the best and most convenient traits for families to succeed, like a close proximity to jobs and schools. So those regions usually appreciate, or carry their value, best.

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

The appreciation history - Is the neighborhood believed to be desirable because of its location or affordability? Have home prices risen or declined over the last 5 to 10 years?

Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a good mix of business in an area, or does it depend on just one industry? Each of these pieces plays a role.

Recognizing the factors that influence your property's price is important. Get an evaluation of your house's value here. 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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