Understanding Roanoke home prices

Over time, the value of a piece of real estate will fluctuate up and down. For the most part, home values appreciate in the long term. But, in real estate there is always a certain amount of risk.

When your house appreciates you have a bigger asset to borrow against, and you get a better profit when you sell. There are different reasons why property values in Roanoke move up and down. So, how will you be sure what you're investing in today will appreciate over time? It's critical that you pick a REALTOR^® in Roanoke who recognizes the factors that influence local prices.

Find My Home's Value

What is the most important factor impacting real estate appreciation? Many assume that it's the economy. Naturally, there are several factors on a national level that alter your house's value: unemployment, interest rates, inflation, and more. But the most influential things that decide your house's value are specific to the local Roanoke economy and housing market.

Let MKB, REALTORS help you with your first home purchase in Roanoke

Let MKB, REALTORS help you with your first home purchase in Roanoke

Location in a community - Many home buyers choose to live in districts with the most helpful components for homes to develop, like a close proximity to schools, jobs, and work. So those regions typically appreciate, or retain their value, best.

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

Appreciation history - Have property prices risen or declined over the past 5-10 years? Is the area considered desirable because of its location or affordability?

Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a fair combination of jobs in an area, or does it rely upon just one industry? These items play a part.


	Learning the factors that influence your house's worth is important. Visit this link for an evaluation of your house's value. Call me at 540.989.4555 or e-mail me if you have any questions at all. I'd love to hear from you.