Real estate values are forever in flux.
Home values appreciate in the long term for the most part.
But there are no "sure things" in real estate.
When your home appreciates you have more equity to borrow against, and you get a greater profit when you sell.
But how do you know what you're investing in this year will appreciate over time? Property values in Denton move up and down for a variety of reasons.
The most important factor is that you select an agent in Denton who knows the factors that drive local prices.
What is the most important factor affecting real estate appreciation? Many believe that it's the economy.
there are many issues on a national level that affect your property's value: unemployment, interest rates, consumer confidence, and more.
However, your house's value and the components that play the most significant role in its appreciation are specific to the local Denton economy and housing market.
Access to services - Convenient access to schools, employment and amenities like shopping, restaurants and entertainment is a big deal to a lot of us and will greatly influence home values.
So these communities typically appreciate, or hold their value, best.
Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? What was the final sales amount versus the asking price? A lot of data can often be obtained from public records, but a good agent with access to the local MLS will usually provide a more complete picture.
Appreciation history - Have house prices gone up or down over the last 5-10 years? Is the area thought to be desirable because of its location or affordability?
The local economy - Are local companies 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?
All these play a role.