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Realty Professionals
8070 21 Mile Rd.
Shelby Twp., MI 48317
ph:  586.932.2660
fax: 586.932.2662
al@mirealtypros.com
Home > Home Appreciation
Home Appreciation
The economy is assumed to be the most influential factor affecting real estate appreciation. It goes without saying that there are many factors on a national level that change your property's value: unemployment, mortgage rates, quarterly earnings reports, and more. However, your house's value and the elements that play the most significant role in its appreciation are specific to the local Shelby Township economy and housing market. 

PricesGoingUpLocation in a community - People typically want homes in the areas with the most convenient features, like our schools and jobs. So those communities generally appreciate, or hold their value, best.

Trends in home sales - How fast are homes selling? Are sellers needing to discount much or offer concessions Some information can be retrieved from public records, but a good agent with access to the local MLS will often be able to provide a more complete picture.

The appreciation history - Is the neighborhood 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 jobs in an area, or does it rely on just one industry? Have companies moved into or away from an area? Are local businesses hiring? Each of these items plays a role.

    

    

    

It's worthwhile to learn about the factors that influence your home's financial worth. Click here to receive an assessment of your house's value. Have any questions? Please feel free to call me at 586-932-2660 or e-mail me.