|
|
|
|
Fluctuating home prices in Mount Pleasant, South Carolina: What causes this?Over time, the value of a home will go up and down. Over a long enough period of time, property values , for the most part, appreciate. But, in real estate there are no "sure things".
When your home appreciates you have a greater asset to borrow against, and you'll create a better profit when you sell. There are different reasons why property values in Mount Pleasant vary. So, how will you be sure what you're buying now will appreciate over time? The most important element is that you select a real estate agent in Mount Pleasant who can identify the factors that influence local prices.
The economy is believed to be the most critical factor affecting real estate appreciation. Naturally, there are quite a few issues on a national level that adjust your home's value: unemployment, interest rates, consumer confidence, and more. But the most important factors that determine your home's value are specific to the local Mount Pleasant economy and housing market.
 Access to services - Being close to schools, work and amenities like shopping, restaurants and entertainment is important to many families and will greatly influence home values. So these areas typically appreciate, or retain their value, best.
Recent sales - Your real estate agent should provide you with figures on the recent home sales in the areas that you're asking about. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have property prices risen or declined over the last 5-10 years? Is the neighborhood thought to be 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 rely upon just one industry? Is the blend of commercial and residential zoning changing? Each of these items plays a role.
 |
 |
 |
It's smart to learn about the factors that play into your home's market price. Visit this link for an assessment of your home's value. And if you have any questions, call me at 843-452-6038 or e-mail me . |
|
|
|
 |
|
|
|
Contact the "The Terry Team" Today!
Mike Terry, Realtor®, GRI, ABR, e-PRO, GCREP, Certified Mentor, Team Leader, Shareholder
  
The TEAM that turns the "SALE" into "SOLD"!
|
