There are a variety of factors that can depreciate the value of your home. Factors way beyond your control. The state of the economy can be directly correlated to the changes to real estate value. A weak economy means a higher unemployment rate which in turn decreases the purchasing capacity of the buyer. The result and surfeit of the properties can lead to lower selling prices and higher selling times.
Read Also:The Upside To Downsizing Your Home
Another factor that can severely affect the properties value is the mortgage interest rates and the changing demographics as the prices in any particular area may depend on the types of home that are in demand, short sales and foreclosure can also distort the home prices, especially when foreclosed homes are used as comparable sales by the appraiser severe weather or high property taxes can be a factor too.
Got question about evaluating your home’s value? Contact the Agardi Team!
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One of the reasons to call the Agardi Team if you want to buy a home or have one to sell is:
Not only do we sell our clients’ homes for more money and faster than the average area agent, but your home is also more likely to sell. According to 2015 MLS statistics, only 71% of area homes sold during their listing term. Compare that to our 95% of homes listed that sold before the end of the listing term. YOUR HOME SOLD GUARANTEED OR WE’LL BUY IT*
To discuss the sale of your home, call The Agardi Team at 718-755-2882 and start packing!
*Agardi Team and the seller have to agree on the price and the closing date.
