Appreciation refers to the increase in market value of a property over a period of time. Appreciation is directly related to current market factors and can fluctuate with market conditions such as the strength of the economy, the number of homes available on the market, and current interest rates. In a real estate market where there is a limited number of homes for sale and a large number of buyers in the marketplace, homes tend to appreciate in value. Other factors that tend to increase appreciation are location and condition of the home, attractive financing, and property improvements such as additional bedrooms, bathrooms,and kitchen improvements. For more information on property appreciation, contact a real estate professional.
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