Property prices are constantly moving up and down.
Almost always, property values appreciate in the long term.
But, of course, there is always a certain amount of risk in real estate.
When your house appreciates you have a bigger asset to borrow against, and you get a higher profit when you sell.
Property values in Anchorage waver for a variety of reasons, so how can you be sure what you're buying now won't depreciate the day after you close?
It's imperative that you go with an agent in Anchorage who can identify the factors that affect local prices.
Many guess that the economy is the greatest factor affecting real estate appreciation.
It goes without saying that
there are several factors on a national level that influence your home's value: unemployment, mortgage rates, quarterly earnings reports, and more.
However, your home's value and the factors that play the most significant role in its appreciation depend on the local Anchorage economy and housing market.
Location in a community - People typically want homes in the regions with the most convenient amenities, like our schools and work.
So when it comes to holding their value, these areas consistently appreciate much more reliably than areas lacking key features.
Recent home sales - How long are homes on the market? Are sellers having to discount much? A lot of data can be obtained from public records, but a good agent with a login to the local MLS will often be able to provide a more complete picture.
The appreciation history - Is the community believed to be desirable because of its location or affordability? Have home prices risen or declined over the last 5-10 years?
Local economy - Is there a nice mix of job types in an area, or does it count on just one industry? Have companies moved into or away from an area? Are local companies hiring?
All these play a part.
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