What causes Stillwater home prices to fluctuate?
Over time, the worth of a property will go up and down. In most cases, property values appreciate in the long term. But, of course, in real estate there is always a certain amount of risk.
When your home appreciates you have a greater asset to borrow against, and you'll generate a bigger profit when you sell. Property values in Stillwater shift for a variety of reasons, so how do you know what you're investing in today won't depreciate the day after you close? Choosing a REALTOR® in Stillwater who recognizes the factors that affect local prices is the most important thing to consider.
A lot of people are convinced that the economy is the top factor impacting real estate appreciation. It goes without saying that interest rates, unemployment, job growth, government programs and many other national determinants have a measurable influence on your property's value. But the most influential issues that decide your home's value are specific to the local Stillwater economy and housing market.
Location in a community - Proximity to schools and jobs also have a great influence on most home buyers' choices. So those areas generally appreciate, or keep their value, best.
Recent sales - Your REALTOR® should give you facts and figures on the recent home sales in the regions that you're interested in. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the last 5 to 10 years, have property prices increased or decreased? Does location or affordability affect how desirable the neighborhood is believed to be?
The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a good mix of work in an area, or does it count on just one industry? Is the blend of commercial and residential zoning changing? These items play a role.
It's smart to learn about the factors that influence your home's market price. Click here
to receive an estimation of your home's value. Have any questions? Please feel free to call us at (405) 533-3800 or e-mail us