Jason DeRousseau
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Home values are constantly moving up and down. Typically, home values appreciate in the long term. But, of course, in real estate there are no "sure things".
When your property appreciates you have more resources to borrow against, and you'll generate a higher profit when you sell. But how will you be sure what you're buying presently will appreciate over time? Property values in Rice Lake fluctuate for different reasons. The most important part is that you choose a REALTOR® in Rice Lake who can identify the factors that drive local prices.
The economy is thought to be the number one factor impacting real estate appreciation. It goes without saying that there are several issues on a national level that change your property's value: unemployment, interest rates, inflation, and more. However, your home's value and the elements that play the biggest role in its appreciation depend on the local Rice Lake economy and housing market.
Location in a community - Proximity to schools, jobs, and amenities also have a significant influence on most home buyers' choices. So these areas often appreciate, or keep their value, best.
Recent sales - Your agent should give you stats on the recent home sales in the districts that you'd like to live in. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have house prices risen or declined over the last 5 to 10 years? Is the community thought of as desirable because of its location or affordability?
Local economy - Is there a nice blend of job types in an area, or does it depend on just one industry? Have businesses moved into or away from an area? Are local companies hiring? Each of these factors plays a role.
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This information provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Sold price derived from transfer tax shown on deed, other factors may influence actual sale price. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange program of the NWW MLS. Real Estate listings held by brokerage firms other than ReMax Advantage are marked with the NWW MLS icon. Information provided by seller, listing broker and other parties may not have been verified. This data is updated daily. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available.
Information last updated on 2024-03-18 17:30:19.