Home prices are forever in flux. Home values appreciate in the long term almost always. But, in real estate there are no "sure things".
When your home appreciates you have more resources to borrow against, and you make a better profit when you sell. Property values in Tulsa move up and down for various reasons, so how can you be sure what you're buying right now won't depreciate the day after you close? The most important factor is that you select an agent in Tulsa who can identify the factors that drive local prices.
What is the most influential factor impacting real estate appreciation? Many assume that it's the economy. It goes without saying that interest rates, unemployment, business growth, government programs and several other national factors have a noticeable effect on your home's value. But the most significant things that determine your property's value are specific to the local Tulsa economy and residential market.
Access to services - People typically want homes in the regions with the most accommodating features, such as our work and schools. So those regions typically appreciate, or keep their value, best.
Recent sales - Your agent should provide you with stats on the recent real estate sales in the neighborhoods that you're interested in. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the community thought of as desirable because of its location or affordability? Have house prices risen or declined over the last 5 to 10 years?
Local economy - Is there a fair blend of business in an area, or does it count on just one industry? Have companies moved into or away from an area? Are local companies hiring? Each of these factors plays a part.
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