Understanding Seaville home prices

Home values are continually changing. In most cases, property values appreciate in the long term. But there are no guarantees in real estate, of course.

When your home appreciates you have a greater asset to borrow against, and you'll make a larger profit when you sell. Property values in Seaville vary for different reasons, so how do you know what you're purchasing right now won't depreciate the day after you close? It's critical that you select a REALTOR^® in Seaville who recognizes the factors that affect local prices.

What is the most influential factor affecting real estate appreciation? Many are convinced that it's the economy. Naturally, mortgage rates, unemployment, job growth, government programs and some other national determinants have a definite effect on your house's worth. However, your home's value and the things that play the biggest role in its appreciation are specific to the local Seaville economy and housing market.

Location in a community - Convenient access to schools, employment and amenities like shopping, restaurants and entertainment is a priority to many us and will greatly influence home values. So when it comes to retaining their value, these areas generally appreciate the best.

Recent home sales - You should receive facts and figures on the recent real estate sales in the neighborhoods that you'd like to live in from your REALTOR^®. You'll need to analyze data like how long a house stays on the market and listing price versus selling price.

Appreciation history - Have property prices gone up or down over the past 5 to 10 years? Is the neighborhood considered desirable because of its location or affordability?

The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a fair blend of jobs in an area, or does it count on just one industry? Is the blend of commercial and residential development changing? All these play a role.