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

Home prices are constantly moving up and down. Almost always, property values appreciate in the long term. But, of course, there are no "sure things" in real estate.

When your home appreciates you have more resources to borrow against, and you'll produce a better profit when you sell. But how can you be sure what you're investing in presently will appreciate over time? Property values in Albuquerque rise and fall for a variety of reasons. The most important part is that you go with a real estate agent in Albuquerque who understands the factors that affect local prices.

The economy is thought to be the most influential factor affecting real estate appreciation. Obviously, mortgage rates, employment, job growth, government programs and some other national determinants have a definite effect on your home's worth. But the most important factors that figure your property's value are specific to the local Albuquerque economy and residential market.

Let Qmetro Realtors Inc help you with your first home purchase in Albuquerque Access to services - Proximity to work and schools also have a significant effect on all home buyers' decisions. So these regions consistently appreciate, or retain their value consistently, year to year.

Recent sales - Your real estate agent should give you statistics on the recent home sales in the neighborhoods that you're asking about. You'll want to know average time on market, selling versus listing price and more.

The appreciation history - Is the neighborhood thought to be desirable because of its location or affordability? Have home prices gone up or down over the past 5 to 10 years?

Local economy - Is there a good mix of job types in an area, or does it rely upon just one industry? Have companies moved into or away from an area? Are local businesses hiring? These items play a role.

It's wise to be informed about the factors that affect your property's worth. Click here to receive an evaluation of your house's value. And if you have any questions, call me at 505.615.0436 or e-mail me .

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