Ed's Chesprocott Region Blog: Prospect CT Home Prices: How do They Appreciate in Value?

Prospect CT Home Prices: How do They Appreciate in Value?

Prospect CT Home Prices: How do They Appreciate in Value?

Over time, the value of a piece of real estate will go up and down. Property values appreciate in the long term typically. But there is always a certain amount of risk in real estate, of course.

When your Prospect CT property appreciates, you as the proud owner now have a larger asset to borrow against, and you'll see a higher profit when you sell. Property values in Prospect CT rise and fall for various reasons, so how do you know what you're purchasing now won't depreciate the day after you close? Choosing an agent in Prospect CT who is familiar with the factors that influence local prices is the most important thing to consider.

 

What is my home worth?

 

A lot of people assume that the economy is the top factor affecting real estate appreciation. Obviously, mortgage rates, unemployment, job growth, government programs and numerous other national factors have a noticeable effect on your home's value. However, your home's value and the aspects that play the most significant role in its appreciation depend on the local Prospect CT economy and housing market.

Prospect CT Home Prices: How do They Appreciate in Value?

Access to services - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is a big deal to many us and will greatly influence home values. So those regions often appreciate, or retain their value, best.

Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? Are sellers having to discount much? A lot of data can be obtained from public records, but a good agent with access to the local MLS will usually 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 considered?

Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a fair mix of business in an area, or does it rely on just one industry? All these play a part.

Learning the factors that impact your property's worth is important. Visit this link for an estimation of your home's value. Have any questions? Please feel free to call me at (203) 758-6440 or e-mail me.

Getting a professional estimate of your home's value is important especially if you are considering selling in the near future.

 

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Whether looking to buy or sell, we service the Greater Waterbury towns of Beacon Falls, Bethany, Cheshire, Naugatuck, Middlebury, Southington, Thomaston, Waterbury, Watertown and Wolcott 

Ed Silva  RE/MAX Professionals,  www.edwardsilva.com  203-206-0754

Comment balloon 8 commentsEd Silva • February 03 2017 06:16PM

Comments

Ed good job in pointing out several of the factors which determine the value of a home.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) 6 months ago

This is a great post. As real estate professionals we all have a handle on what the market in our local area is doing. It's like the doctor that keeps up with the latest trends in medicine. We do the same in our business. We are aware of the trends and can discuss these with prospective home buyers and sellers. 

Posted by Debbie Laity, Your Real Estate Resource for Delta County, CO (Cedaredge Land Company) 6 months ago

Ed awesome information to buyers and sellers and of course in my market it makes a difference if Celebrities owned the home and who happened to be the owner....also make a difference:)Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) 6 months ago

Ed, you share great reasons to buy into Prospect CT and why owning a home will make you more secure in your living arrangements.  Buy below your means and a buyer will always be comfortable I say.

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (Phillips Post Road Realty ~ 401-529-7849~ RI Waterfront Real Estate) 6 months ago

I know if sellers will contact you, Ed that they will get the facts and the best representation. Have a terrific weekend.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional) 6 months ago

Ed, great post for homeowners to see how home values can be affected!  

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) 6 months ago

Ed Silva Thank you for sharing such professional real estate advice for home sellers.  This is exactly the type of information they need to make informed decisions.

Posted by Jim Crawford, Jim Crawford Atlanta Best Listing Agents & REALTOR (RE/MAX Paramount Properties) 6 months ago

Anyone thinking of buying or selling a home in your market area should call you. You know your market.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) 5 months ago

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