What drives property values in WOODSIDE to move up and down?

Real estate prices are forever in flux. Typically, home values appreciate in the long term. But there are no "sure things" in real estate.

When your home appreciates you have a larger asset to borrow against, and you'll see a higher profit when you sell. But how do you know what you're buying presently will appreciate over time? Property values in WOODSIDE fluctuate for a variety of reasons. Choosing an agent in WOODSIDE who knows the factors that influence local prices is the most important element to consider.

   


What is the top factor affecting real estate appreciation? Many guess that it's the economy. It goes without saying that interest rates, unemployment, business growth, government programs and some other national determinants have a definite change your house's value. But the most influential things that decide your house's value depend on the local WOODSIDE economy and residential market.

Let One Stop Multiservice Inc help you with your first home purchase in WOODSIDE Access to services - Being close to schools, jobs and amenities like shopping, restaurants and entertainment is important to many buyers and will greatly influence home values. So those communities usually appreciate, or carry their value, best.

Real estate sales trends - How quickly are houses selling? Are sellers needing to discount much or offer concessions Some information can often be obtained from public records, but a good agent with access to the local MLS will usually be able to provide a more complete picture.

Appreciation history - Have property prices gone up or down over the last 5 to 10 years? Is the area believed to be desirable because of its location or affordability?

Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a nice mixture of jobs in an area, or does it count on just one industry? All these play a role.

Knowing the factors that impact your house's price is important. Visit this link for an estimation of your house's value. Call me at 718-554-0257 or e-mail me if you have any questions at all. I'd love to hear from you.