Frequently Asked Questions

Yes, a house can depreciate in value, just as any asset can. Like anything else, the value of a house is determined by supply and demand. As supply increases or demand decreases price can drop and vice versa. As most people purchase homes with loans that are paid on a monthly bases, the value of a house can change due to changes in property taxes and interest rates. If taxes and interest rates increase, they become a larger portion of an owners possible monthly payment, they can therefor pay less for the house and its value will decrease. House value will increase and decrease based on market conditions and can inflate and deflate with the economic cycle but in general can be expected to follow inflation.

Yes! An older home may be just as valuable as a new home if these features are up to date and concern for maintenance costs is minimal. The quality of initial construction also affects value. Some would argue, due to increased regulation of building codes, that new homes are built better than older homes.

A broker is a person or firm who arranges transactions between a buyer and a seller for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal.

You don’t have to pay taxes.