Fluctuating home prices in Rhinelander, Wisconsin: What causes this?

Over time, the worth of a house will go up and down. Over a long enough period of time, home values generally appreciate. But there are no guarantees in real estate, of course.

When your house appreciates you have a greater asset to borrow against and you'll make a higher profit when you sell. Property values in northern Wisconsin change for various reasons, so how will you know what you're investing in right now won't depreciate the day after you close?  Let Key Insight agents help you identify the factors that influence local prices.

   


What is the number one factor impacting real estate appreciation? Many assume that it's the economy. It goes without saying that mortgage rates, unemployment, job growth, government programs and some other national determinants can always adjust your property's worth. But the most influential issues that determine your property's value are specific to the local economy and housing market.

Let KEY INSIGHT Real Estate Services help you with your first home purchase in Rhinelander Access to services - People typically want homes in the regions with the easiest access to amenities, such as our schools, jobs, and shopping. So these areas typically appreciate, or retain their value, best.

Recent sales - Your agent should give you reports on the recent real estate sales in the areas that you're interested in. You'll want to know average time on market, selling versus listing price and more.

Appreciation history - Have house prices increased or decreased over the past 5-10 years? Is the community thought of as desirable because of its location or affordability?

The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a good mix of job types in an area, or does it rely upon just one industry? Is the mix of commercial and residential zoning changing? Each of these elements plays a part.

Knowing the factors that play into your home's value is important. Get an evaluation of your house's value here. Call me at 715-362-5151 or e-mail us if you have any questions at all.  We hope to hear from you.

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