Property values are continually changing.
Almost always, property values appreciate in the long term.
But, in real estate there are no "sure things".
When your house appreciates you have more resources to borrow against, and you'll generate a greater profit when you sell.
But how can you be sure what you're buying this year will appreciate over time? Property values in Landrum rise and fall for various reasons.
Choosing a real estate agent in Landrum who understands the factors that drive local prices is the most important factor.
A lot of people believe that the economy is the top factor impacting real estate appreciation.
It goes without saying that
interest rates, unemployment, job growth, government programs and numerous other national determinants have a definite impact on your property's worth.
But the most significant issues that figure your house's value depend on the local Landrum economy and housing market.
Access to services - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is a priority to a lot of buyers and will greatly influence home values.
So when it comes to keeping their value, these communities consistently appreciate the best.
Recent home sales - You should receive statistics on the recent real estate sales in the districts that you're asking about from your real estate agent. You'll need to learn data like time on market and asking price versus selling price.
The appreciation history - Is the community thought to be desirable because of its location or affordability? Have home prices increased or decreased over the last 5 to 10 years?
Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a good blend of work in an area, or does it depend on just one industry?
All these play a part.