Fluctuating home prices in the Stratford area, Oklahoma: What causes this?
Real estate values are constantly moving up and down. Over a long enough period of time, house values typically appreciate. But, in real estate
there is always a certain amount of risk.
When your house appreciates you have more resources to borrow against, and you'll produce a bigger profit when you sell. There are various reasons why property values in Stratford go up and down. So, how will you be sure what you're investing in today will appreciate over time? The most important thing is that you go with a REALTOR® in Stratford who recognizes the factors that affect local prices.
What is the top factor impacting real estate appreciation? Many think that it's the economy. It goes without saying that there are numerous factors on a national level that affect your property's value: unemployment, mortgage rates, business growth, and more. However, your house's value and the factors that play the most significant role in its appreciation are specific to the local Stratford economy and housing market.
Access to services - Proximity to jobs and schools also have a huge influence on most home buyers' choices. So when it comes to holding their value, these communities typically appreciate much more reliably than areas lacking key features.
Recent home sales - You should receive data on the recent real estate sales in the neighborhoods that you'd like to live in from your agent. You'll need to learn figures like time on market and seller discounts.
Appreciation history - Have house prices risen or declined over the past 5-10 years? Is the neighborhood believed to be desirable because of its location or affordability?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a good mixture of work in an area, or does it depend on just one industry? Is the mix of commercial and residential development changing? All these play a part.
Identifying the factors that influence your house's price is important. Click here
to receive an assessment of your property's value. Have any questions? Please feel free to call us at (580) 759-3700 or e-mail us