Appreciating property values in Plano

Over time, the value of a piece of real estate will go up and down. Almost always, house values appreciate in the long term. 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 generate a better profit when you sell. But how can you be sure what you're purchasing this year will appreciate over time? Property values in Plano waver for various reasons. It's imperative that you pick a real estate agent in Plano who knows the factors that influence local prices.

Many are convinced that the economy is the number one factor affecting real estate appreciation. It goes without saying that mortgage rates, unemployment, business growth, government programs and some other national factors have a measurable impact on your house's worth. But the most important factors that decide your house's value are particular to the local Plano economy and residential market.

Let The Rice Group, Inc. help you with your first home purchase in Plano Location in a community - People typically want homes in the districts with the most convenient amenities, like our schools and work. So when it comes to retaining their value, these communities typically appreciate much more reliably than areas lacking key features.

Recent home sales - You should receive figures on the recent real estate sales in the districts that you'd like to live in from your agent. You'll want to know things like how long a house stays on the market and listing price as opposed to selling price.

History of appreciation - In the last 5 to 10 years, have house prices gone up or down? Does location or affordability affect how desirable the area is thought to be?

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 depend on just one industry? Each of these elements plays a part.

It's wise to learn about the factors that impact your property's market price. Get an evaluation of your property's value here. And if you have any questions, call us at (214) 808-3100 or e-mail us at .

The Rice Group at COMPASS

5025 W Park Blvd, #300
Plano, TX 75093