Home Appreciation

Q. On average, how much do homes appreciate each year? I know markets are local, but is the market set to improve this Year as 2008 progresses?

A. No doubt there is some mathematical answer to your question of average appreciation, but the answer is relative for several reasons. First, past results do not guarantee future outcomes. 2nd, all real estate is unique, so what happens on average does not necessarily relate to a given property. 3rd, the assumption that homes will always appreciate each year is simply wrong. Granted, home prices have dramatically increased in the area over the past couple decades, but they have slipped a little over the past year. As to what will happen in 2008, there are predictions floating around, all based on assorted presumptions & assumptions which together are nothing but glorified guesses, hopes, wishes & bar bets. Don’t listen to the sensationalistic news that says the market is crashing. There will always be buyers out there and some years will produce more buyer’s than others.

The Home in the picture is located in South Lansing at 3423-186th St. Very affordable & well cared for home for only $119,800. 4 bedrooms. Huge Kitchen and a 2.5 car garage with a 9 ft high door, perfect for your large toys.