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“ASK LAURA ABOUT REAL ESTATE”<br />
Let’s talk about Home Appreciation!<br />
When you hear the phrase "price appreciation," what does it mean to<br />
you? Chances are you know it has to do with rising home prices, which is<br />
good news, if you are considering selling your home. To truly understand<br />
home price appreciation, you need to know how it works and why it<br />
matters to you.<br />
Laura Harbison<br />
Broker/Owner<br />
B.0026537.LLC/ PM.0164922.BKR<br />
Accredited Buyer Representative ® (ABR)<br />
At Home With Diversity (AHWD)<br />
Broker Price Opinion Resource (BPOR)<br />
Certified Distressed Property Expert ® (CDPE)<br />
Certified Residential Specialist (CRS)<br />
Distinguished Real Estate Broker ® (DRB)<br />
Graduate, REALTOR ® Institute (GRI)<br />
Pricing Strategy Advisor ® (PSA)<br />
Resort & Second-Home Property Specialist<br />
(RSPS)<br />
Seniors Real Estate Specialist ® (SRES)<br />
Equator Platform Platinum Certification<br />
Equator Short Sale Agent Certification<br />
Advanced Evaluations Certification<br />
NVS Institute BPO Certification<br />
Five Star BPO Designation<br />
NAWRB Certified Delegate Spokeswoman<br />
Laura@HarbisonRealEstate.com<br />
www.LauraHarbisonRealEstate.com<br />
Call Laura Today!<br />
702-777-1234<br />
Appreciation, in general terms, is an increase in the value of an asset over<br />
time. The increase can occur for a number of reasons, including increased<br />
demand or weakening supply, or as a result of changes in inflation or<br />
interest rates. This is the opposite of depreciation, which is a decrease in<br />
value over time.<br />
When we consider how this applies to real estate, the key words are<br />
SUPPLY and DEMAND. In today's real estate market, we're experiencing<br />
high demand for homes, AND a low supply which isn't keeping up with the<br />
demand. Anytime there is more demand than supply, prices naturally<br />
rise. This happens because buyers are willing to pay more to secure the<br />
property. Buyers are competing with one another to purchase a home,<br />
leading to bidding wars that drive prices up. For sellers, the rising prices<br />
mean that opportunity is knocking.<br />
The typical national average home price appreciation rate is between 3-5%<br />
a year. Today, home prices are appreciating well beyond the “norm” thanks<br />
to high demand. Compared to the normal pace of 3-5% appreciation per<br />
year, the current average forecast of nearly 11.5% is significant, and some<br />
areas in the Las Vegas Valley have seen almost double that!<br />
So, if you are considering selling your home, it may be worth more than you<br />
realize. You can use your increased equity to finally purchase your dream<br />
home, or you can put it toward other big goals like funding an education or<br />
opening a business.<br />
But don't wait. While price appreciation is strong now, most likely we will<br />
see homes appreciating at a more normalized pace next year. If you sell<br />
your house sooner, rather than later, you'll be in a better position to<br />
capitalize on the higher-than-average home price appreciation we're<br />
seeing today.<br />
If you're thinking of selling, there really is no time like the present. Call or<br />
email me today and I will provide you with the up-to-the-minute market<br />
analysis of your home and its potential. I'm here to help, and I'm looking<br />
forward to working with you!<br />
2<br />
September 20<strong>21</strong>
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