What drives property values in Topeka to move up and down? Over time, the worth of a home will go up and down. Over a long enough period of time, property values almost always appreciate. But there is always a certain amount of risk in real estate, of course. When your house appreciates you have a bigger asset to borrow against, and you'll see a greater profit when you sell. Property values in Topeka move up and down for many different reasons, so how will you be sure what you're investing in presently won't depreciate the day after you close? The most important element to consider is that you choose a real estate agent in Topeka who recognizes the factors that affect local prices.   Free Home Valuation   What is the major factor impacting real estate appreciation? Many guess that it's the economy. Clearly, there are a handful of issues on a national level that affect your property's value: unemployment, interest rates, quarterly earnings reports, and more. However, your property's value and the features that play the most significant role in its appreciation are specific to the local Topeka economy and housing market. Access to services - Convenient access to schools, work and amenities like shopping, restaurants and entertainment is a priority to a lot of us and will greatly influence home values. So these regions consistently appreciate, or keep their value, best. Real estate sales trends - How quickly are houses selling? Are sellers needing to discount much or offer concessions A lot of data can be retrieved from public records, but a good agent with access to the local MLS will often provide a more complete picture. Appreciation history - Have house prices increased or decreased over the last 5 to 10 years? Is the neighborhood considered desirable because of its location or affordability? Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a fair combination of business in an area, or does it count on just one industry? Each of these pieces plays a role. It's vital to be informed about the factors that play into your property's financial worth. Click here to receive an evaluation of your house's value. Call me at (785) 273-6500 or e-mail me if you have any questions at all. I'd love to hear from you.

2641 SW Wanamaker Rd., Ste. 202  •  Topeka, KS 66614

785.273.6500 (Office)  •  785.273.6510 (Fax)

1 Source Real Estate, Inc.  is a Licensed Real Estate Company (# CO0000514) in the State of Kansas