Over time, the value of a house will fluctuate up and down.
Property values appreciate in the long term generally.
But, of course, there is always a certain amount of risk in real estate.
When your home appreciates you have a more valuable asset to borrow against, and you'll generate a greater profit when you sell.
But how will you know what you're investing in presently will appreciate over time? Property values in Shelton go up and down for different reasons.
The most important aspect is that you pick an agent in Shelton who recognizes the factors that drive local prices.
Many assume that the economy is the top factor affecting real estate appreciation.
mortgage rates, employment, job growth, government programs and several other national factors have a definite impact on your home's value.
However, your house's value and the features that play the most significant role in its appreciation are particular to the local Shelton economy and housing market.
Access to services - Proximity to jobs and schools also have a huge influence on most home buyers' decisions.
So these regions often appreciate, or keep their value, best.
Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? What was the selling price versus the listing price? Some information can be obtained from public records, but a good agent with a login to the local MLS will often provide a more complete picture.
History of appreciation - In the past 5-10 years, have home prices gone up or down? Does location or affordability affect how desirable the community is thought to be?
Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a nice mixture of work in an area, or does it count on just one industry?
Each of these factors plays a part.