A lot of people think that the economy is the number one factor impacting real estate appreciation. Obviously, interest rates, unemployment, business growth, government programs and numerous other national factors have a measurable impact on your property's value. However, your property's value and the features that play the most significant role in its appreciation are specific to the local Austin economy and housing market.
Let IREAF, LLC help you with your first home purchase in AustinLocation in a community - Most people want homes in the districts with the easiest access to places we go often or everyday, such as our jobs and schools. So these areas generally appreciate, or retain their value consistently, year to year.
The latest home sales - You should receive data on the recent real estate sales in the neighborhoods that you'd like to live in from your real estate agent. You'll need to learn figures like time on market and seller discounts.
Appreciation history - Have home prices risen or declined over the past 5-10 years? Is the neighborhood 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 good combination of business in an area, or does it rely on just one industry? These items play a role.