Here are some tips to help you find a home with good resale value:
* Location is Essential
* Locations regarded as most desirable today might not keep that status forever, but they're good models to use when you're searching for a home.
* Why are those neighborhoods in demand and how long have they been top choices?
* Are there other areas in town that are increasing in desirability?
* Does new growth in town seem to be headed towards a certain area? Will there be plenty of services (groceries, shopping, schools) in that area?
* Is the community changing--with residential areas shifting over to commercial properties?
(That can sometimes be a plus for eventual real estate value, but a negative while you live there.)
Home Value Buying Tip: Always choose a home that suits your needs, but if you can, find one in a location that others seem to want, too.
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DataHomes.com "Nationwide Real Estate Listings and Property Values"
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Homeowners Expect Home Values to Increase In the Next 12 Months
More than half of homeowners responding to a new national survey said they expect their home values to appreciate five percent or more in the next year. Another 19% said they expect no change in the value of their homes in the next 12 months. Only 29% of homeowners said they expect home prices to fall five percent or more in the same period.
Although the national median price of a single-family homes dipped to $219,880 in September, down just 2.5% over a year ago, the inventory of unsold homes fell for the second straight month. “The worst is behind us as far as a market correction,” noted David Lereah, chief economist for the National Association of Realtors. “When consumers recognize that home sales are stabilizing, we’ll see the buyers who’ve been on the sidelines get back into the market."
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Our Home value service is not available in all areas. This free service is designed to help sellers obtain a preliminary estimate of the value of your home. Provided by a local real estate agent selected through HomeGain.
