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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.

Another note, a home can devalue very quickly if the neighbor or city that it is located in becomes less desirable than it used to be. So, never assume when buying a house that it will only appreciate.

The better investment will come down to your unique goals. If you plan to use the home as an investment property, updating an older home with modern conveniences will likely pay off more when you sell your home. On the other hand, if you plan to live in the home long-term, a new construction will cost you less over time and will be in a good state when it’s time to sell.

Like most decisions, it comes down to what you value. If those small character touches mean a lot to you, it can be worth paying more for an older home in an established neighborhood. If you’d rather have a home full of modern conveniences, it’s more value-friendly to opt for a new house.

For most people, there is no distinction between a real estate broker and a real estate agent. However, if you work in the real estate industry, there is a very clear difference.

All real estate brokers were once licensed agents — but not all agents are brokers. Brokers assume legal responsibility for the agents and the real estate transactions being managed through their brokerage.

Agents hang their licenses with a brokerage, and the broker provides oversight, consultation, and direction to ensure transactions get managed according to the letter of the law. Real estate brokers are responsible for compliance, paperwork approval, lead generation, and new agent training. They even mediate agent disagreements and guide some agent transactions. Often, they are the owners of the brokerage as well. Brokers are responsible for the overall health of the brokerage and its agents.

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