Davie home prices: Need some help understanding why they appreciate?
Home prices are constantly moving up and down.
Over a long enough period of time, property values typically go up.
But, of course, in real estate there are no "sure things".
When your property appreciates you have a more valuable asset to borrow against, and you'll see a bigger profit when you sell.
There are many different reasons why property values in Davie go up and down. So, how do you know what you're buying today will appreciate over time?
The most important element to consider is that you choose an agent in Davie who knows the factors that affect local prices.
The economy is believed to be the top factor affecting real estate appreciation.
mortgage rates, unemployment, business growth, government programs and many other national determinants have a measurable impact on your house's value.
But the most influential factors that figure your house's value are specific to the local Davie economy and residential market.
Location in a community - Many consumers want to live in areas with the best and most convenient traits for households to grow, like a close proximity to jobs and schools.
So those communities usually appreciate, or retain their value, best.
Recent sales - Your REALTOR® should provide you with data on the recent real estate sales in the districts that you'd like to live in. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the community considered desirable because of its location or affordability? Have home prices risen or declined over the past 5 to 10 years?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a nice mixture of job types in an area, or does it rely upon just one industry?
These items play a part.
It's worthwhile to learn about the factors that affect your home's value.
to receive an evaluation of your home's value.
And if you have any questions, call me at (954) 598-0700 or e-mail me
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