Real Estate Explained | What is Appreciation

Real Estate appreciation is the increase in value of your home and the property.In the United States since 1968 Real Estate Median Sales increased, but as the current Real Estate market shows, there is no guarantee that you home will appreciate.

It is no secret that economy is affects real estate appreciation in the U.S.So if the economy is not doing well housing will be affected negatively.The things in the economy that will affect housing appreciation include:

• what is happening on Wall Street
• the current employment rate
• business growth in the area
• housing supply and demand
• housing affordability

Factors Affecting Appreciation

There are many factors that will affect appreciation in an area in addition to regional economic and social factors.Two communities right next to each other can perform differently for a variety of reasons. Western New York home buyers select to live in areas with the best and most convenient features for the way they want to live.Important factors in their decision to purchase a home include:

• Schools – good schools foster a sense of community
• Jobs – are there opportunities to earn a great living
• Lifestyle – convenience to shopping, cultural and recreation activities

Although appreciation is nice to have, it should not be the reason you decide to buy a home in a particular area of Western New York. Even if you buy a house in a rapidly appreciating area, there is no guarantee that its value will rise by the time you want to sell it. Just take a look at what is happening in Florida and California. Western New York home sales are happening and values for the most part are remaining constant.The areas that are seeing the decline saw a rapid increase so they currently are undergoing a correction.Check out our complete list of current market reports for a picture of what is happening in each of the communities in Western New York.

One of the great reasons to live in Western New York, besides the great people that live here, is that it has had slow appreciation over the years.We have not gotten on that roller coaster that the rest of the country seems to be on right now.That’s why it’s best to pick a neighborhood – and a home – in an area that suits your own needs.

For more information call Colleen Kulikowski

(716) 650-0051

 

Thinking of selling your Western New York home? Interested in finding out the current market value of your single family home, condo or investment property? Then call www.BestBuffaloHomes.com at (716) 650-0051 to discuss what is happening in today’s Western New York Real Estate Market. We would be happy to give you a personalized Comparative Market Analysis for your home or assist you to purchase a home. View additional WNY Market Area Statistics here.

Our Featured Homes for Sale:

All Statistics are gathered from the Buffalo Niagara Association of REALTORS®.

Properties found on this Web site may be listed with a brokerage other than the owner of this site and are displayed here via the Internet Data Exchange (IDX) system of this broker’s MLS. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing nor displaying broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2012 Western New York Real Estate Information Services (WNYREIS), LLC. All rights reserved.

All Statistics are gathered from the Buffalo Niagara Association of REALTORS®.

Properties found on this Web site may be listed with a brokerage other than the owner of this site and are displayed here via the Internet Data Exchange (IDX) system of this broker’s MLS. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing nor displaying broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2012 Western New York Real Estate Information Services (WNYREIS), LLC. All rights reserved.