Another of the major factors that affect property value. When the economy’s good, wages and compensation increase and the buying power of consumers becomes strong. If this is the case, there’ll be more people who’ll want to own or invest in a second home or a new one entirely.
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Tags: real estate, housing, housing market, home prices, new home sales, existing home sales, pending home sales, home improvements Devon Thorsby is the Real Estate editor at U.S. News & World Report, where she writes consumer-focused articles about the homebuying and selling process, home improvement, tenant rights and the state of the housing.
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The Economy. Another key factor that affects the value of real estate is the overall health of the economy. This is generally measured by economic indicators such as the GDP, employment data, manufacturing activity, the prices of goods, etc. broadly speaking, when the economy is sluggish, so is real estate. However,
About the Author: The above Real Estate information on factors to consider when pricing a home for sale was provided by Bill Gassett, a Nationally recognized leader in his field.Bill can be reached via email at [email protected] or by phone at 508-625-0191. Bill has helped people move in and out of many Metrowest towns for the last 32+ Years.
Filed Under: Buying a Home, Choosing a Neighborhood, First Time Homebuyer, Home Appraisal, Home Purchase Loans Tagged With: amenities and accessibility, buying a home, factors, factors that affect home prices, home prices, home purchase, interest rates, location, market conditions, neighborhood, professional, Real Estate, real estate.
A lot of factors can help predict the price your home will receive when you put it up for sale. Ultimately, it’s worth how much a buyer will pay for it.. Economic Indicators. The strength of the overall economy significantly impacts the real estate market as consumers’ ability to support housing prices largely depends on key factors like GDP, unemployment, and income growth.
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· Small nuances in the market will affect price. If you see a nearby home with a price that seems off the mark, there must be a reason. Dig deeper to uncover what it is, and realize that the home may not, in fact, be a comparable one.