Fluctuating home prices in Tamuning, Guam: What causes this?

Over time, the value of a property will go up and down. Home values appreciate in the long term usually. But there are no "sure things" in real estate.

When your property appreciates you have a more valuable asset to borrow against, and you'll produce a better profit when you sell. But how will you know what you're buying now will appreciate over time? Property values in Tamuning move up and down for numerous reasons. The most important element to consider is that you choose an agent in Tamuning who knows the factors that drive local prices.

What is the most important factor impacting real estate appreciation? Many assume that it's the economy. It goes without saying that there are several factors on a national level that influence your house's value: unemployment, mortgage rates, quarterly earnings reports, and more. However, your property's value and the components that play the most significant role in its appreciation are specific to the local Tamuning economy and housing market.

Let Latte Stone Properties, LLC help you with your first home purchase in Tamuning Access to services - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is a big deal to many us and will greatly influence home values. So when it comes to holding their value, these regions consistently appreciate much more reliably than areas lacking key features.

Real estate sales trends - How long are homes up for sale before closing? What was the selling price versus the asking price? A lot of data can often be obtained from public records, but a good agent with access to the local MLS will often provide a more complete picture.

History of appreciation - In the last 5 to 10 years, have house prices gone up or down? Does location or affordability affect how desirable the community is considered?

The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a fair blend of jobs in an area, or does it rely on just one industry? Is the mix of commercial and residential development changing? These items play a part.

Identifying the factors that impact your home's value is important. Get an assessment of your home's value here. And if you have any questions, call me at (671) 647-5577 or e-mail me .

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Latte Stone Properties, LLC

Suite 101, 597 N Marine Corps Dr
Tamuning, Guam 96913