Home values are continually changing.
Over a long enough period of time, home values , for the most part, appreciate.
But, of course, in real estate there are no "sure things".
When your house appreciates you have a greater asset to borrow against, and you get a bigger profit when you sell.
Property values in Orland Park go up and down for different reasons, so how will you know what you're buying presently won't depreciate the day after you close?
It's imperative that you choose a real estate agent in Orland Park who can identify the factors that drive local prices.
What is the number one factor impacting real estate appreciation? Many are convinced that it's the economy.
interest rates, unemployment, job growth, government programs and many other national factors have a measurable influence on your property's worth.
But the most significant issues that decide your house's value depend on the local Orland Park economy and housing market.
Access to services - Proximity to schools and work also have a major effect on almost all home buyers' choices.
So when it comes to holding their value, these regions generally appreciate the best.
Trends in home sales - Are homes on the market 30, 60, or 90 days or even longer? What was the selling price compared to the listing price? Some information can often be obtained from public records, but a good agent with access to the local MLS will usually provide a more complete picture.
Appreciation history - Have property prices increased or decreased over the last 5-10 years? Is the area thought of as desirable because of its location or affordability?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a good mixture of jobs in an area, or does it rely on just one industry? Is the mix of commercial and residential zoning changing?
All these play a part.