How much do the value of houses go up each year.?

Asked by Malissa, Canton, OH Wed Sep 16, 2009

How much do the value of houses go up each year. I'm planning to sell my house in 5 years to move closer to my children and hoping the value of my home improves.

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Debra (Debbi…, Agent, Livingston, NJ
Fri Sep 18, 2009
Malissa - everyone hopes the value of your home, and their home, will improve in the next 5 years!

That being said, no one, unoless they are a fortune teller, can say where we will be then. The value of most homes has gone down in the past few years, and continues to struggle in many areas.......we all hope this will reverse in the years to come. I am only repeating what others have said before me, as no one can really add much more to the mix.

My advice? Just live your well...and deal with the market when you're ready to deal with it in 5 years. Moving closer to your children will be a treat for you no matter what the market is doing!

All the best,
Debbie Rose
Prudential NJ Properties
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Dallas Texas, Agent, Dallas, TN
Fri Sep 18, 2009
Against Professional Code of Ethics for a realtor make any comment or predict future. Recommend read media determine future trends of area. OR speak with your realtor .

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Bill Eckler, Agent, Venice, FL
Wed Sep 16, 2009

The amount a property appreciates or depreciates is strongly tied to the most current market activity in your home's location. This may vary from one development or neighborhood to another.

A visit with a local real estate professional may clarify today's local market trends.

Good luck
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Don French, , Canton, OH
Wed Sep 16, 2009
Hi Chris, no one knows that answer. In the past 3 years values have dropped 20-30% but hopefully we have hit bottom and prices are on the rise. Certain areas being more desirable, usually the more affluent areas, do better than average. City properties have the worst performance. Homes on the high end of the scale (say, over $400K in Stark County) and on the low end (under $100K) usually take the biggest valuation hit in a soft market. The best financial advice in the current market is to keep your home maintained in excellent resale condition, but do not improve it unless other homes nearby have similar improvements, as you wont recover the dollars spent. Sit back, wait, and pray! Good luck!
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Carolina Crew…, Agent, Winston Salem, NC
Wed Sep 16, 2009
In the in NC....we have seen an average of about 3.5% annually. However, with the market shifting and foreclosures becoming so popular it has been much less. I usually tell my clients to plan on being the home for about 2 years prior to selling, this will usually allow them to at least break even. These days, the benefit is not found when selling, it is found when you buy. So many sellers are taking a hit on the sell side, but making it up...and then some.. when they buy a great deal. If you keep you home in great shape and preform all the maintainence and the area does not go down hill, you should be in decent shape in 5 years. Good luck!
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