Home prices are constantly moving up and down. For the most part, home values appreciate in the long term. But, in real estate there are no guarantees.
When your property appreciates you have a larger asset to borrow against, and you'll create a higher profit when you sell. Property values in SWFL vary for different reasons, so how do you know what you're purchasing this year won't depreciate the day after you close? Choosing a REALTOR® in SWFL who understands the factors that drive local prices is the most important thing to consider.
What is the greatest factor impacting real estate appreciation? Many think that it's the economy. It goes without saying that there are quite a few issues on a national level that affect your home's value: unemployment, interest rates, business growth, and more. But the most influential factors that figure your house's value are specific to the local SWFL economy and housing market.
Access to services - Many of us wish to live in districts with the most conducive traits for homes to succeed, such as a close proximity to schools, jobs, and work. So these communities typically appreciate, or keep their value, best.
Trends in home sales - Are homes on the market 30, 60, or 90 days or even longer? Are sellers needing to discount much or offer concessions Some information can often be retrieved from public records, but a good agent with a login to the local MLS will often be able to provide a more complete picture.
Appreciation history - Have home prices risen or declined over the past 5 to 10 years? Is the area considered desirable because of its location or affordability?
Local economy - Is there a good blend of job types in an area, or does it rely on just one industry? Have companies moved into or away from an area? Are local companies hiring? Each of these factors plays a role.