2007-04-20 08:07:40 · 6 answers · asked by Mikey 2 in Business & Finance ➔ Renting & Real Estate
Since the great depression houses have appreciated 5-8% annually on a national basis. There are some areas of the country have higher or lower than the national average BUT over time real estate appreciates somewhere around that average.
I have properties in the Las Vegas area -- a few years ago we were seeing double digit appreciation and although it has slowed we are still seeing a rate of appreciation around the national average.
So at a minimum you could take the median price of homes in your area and use the mid-range of the national appreciation average to figure out about where home prices (for your area) will be in 10 years.
2007-04-20 10:04:23 · answer #1 · answered by Kathi B 1 · 0⤊ 0⤋
I just sold my condo for 95k, which I had purchased 3years ago for 45k. Now, that's a substantial increase. I just cannot see it skyrocketing as high as it has been in the past few years. It must be ready to cap off soon. The advice I would give you is to make sure, if you are buying to not get into a bidding war. Have a number you will not go over and make sure you stick to it. Or else, you will regret it. If you do not get the one you want, there will always be another similiar out there. Also make sure you sell during the peak season and buy during the off season. This is what we did, and we ended up under bidding for a house that would have cost us 30k more if we were bidding today. Hope this help s a little.
2007-04-20 08:23:07 · answer #2 · answered by fred k 1 · 0⤊ 0⤋
hi, there's a distinction between median and recommend in this style: recommend is the common; upload them on the comparable time and divide with the aid of what quantity are there. Median is the middle quantity in a itemizing, in ascending order, of expenditures (or the common of the two center if the numbers of expenditures is even). If somebody equipped a $a million million living living house in an intensive-with the aid of of $2 hundred,000 homes, the recommend fee will develop, in spite of the incontrovertible fact that the median would desire to truly replace incredibly. The record of expenditures would desire to develop with the aid of one member for the median, which will flow the "center of the record" or median member quite somewhat. If this answer does not help, please upload some greater advice and that i may be happy to proceed helping.
2016-12-10 07:13:29 · answer #3 · answered by kreitman 4 · 0⤊ 0⤋
If anyone could tell you that they wouldn't need to work because they could predict the future. It is hard enough to say where the market will be in six months, no less ten years. Keep watching the market, and listen to the financial news daily, and you will know and be able to speculate as much as the rest of us. Good Luck!!
2007-04-20 08:13:34 · answer #4 · answered by novastarbanker 3 · 0⤊ 0⤋
That depends what country you live in , but I think that here in the UK house prices usually double in value every seven years
2007-04-20 08:30:50 · answer #5 · answered by Anthony B 2 · 0⤊ 0⤋
My crystal ball is down at the moment so there is no way to tell.
2007-04-20 08:11:27 · answer #6 · answered by Anonymous · 0⤊ 1⤋