AUSTIN home prices: Need some help understanding why they appreciate?

Home values are continually changing. Property values appreciate in the long term normally. But, of course, in real estate there is always a certain amount of risk.

When your home appreciates you have a larger asset to borrow against, and you'll produce a greater profit when you sell. There are numerous reasons why property values in AUSTIN shift. So, how can you be sure what you're buying right now will appreciate over time? Choosing a REALTOR® in AUSTIN who recognizes the factors that drive local prices is the most important factor.

 
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The economy is thought to be the most important factor affecting real estate appreciation. It goes without saying that there are some issues on a national level that affect your home's value: unemployment, mortgage rates, inflation, and more. But the most influential things that determine your house's value are specific to the local AUSTIN economy and housing market.

Let German Godoy help you with your first home purchase in AUSTIN Access to services - Being close to schools, jobs and amenities like shopping, restaurants and entertainment is a big deal to a lot of families and will greatly influence home values. So these regions usually appreciate, or keep their value, best.

The latest home sales - How fast are homes selling? What was the final sales amount compared to the asking price? Some information can often 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.

History of appreciation - In the last 5-10 years, have house prices gone up or down? Does location or affordability affect how desirable the community is thought of as?

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

Recognizing the factors that influence your home's price is important. Get an evaluation of your home's value here. Please call me at 512-751-8372 or e-mail me with any questions.

German Godoy 12515-8 Research Blvd., suite 100 AUSTIN, TX 75759
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