Understanding Davie property appreciation
Real estate prices are continually changing.
Over a long enough period of time, property values normally go up.
But there are no "sure things" in real estate, of course.
When your home appreciates you have a more valuable asset to borrow against, and you'll produce a larger profit when you sell.
But how do you know what you're purchasing this year will appreciate over time? Property values in Davie go up and down for numerous reasons.
It's imperative that you pick a REALTOR® in Davie who recognizes the factors that drive local prices.
The economy is thought to be the most influential factor impacting real estate appreciation.
It goes without saying that
mortgage rates, employment, business growth, government programs and several other national factors have a noticeable effect on your house's value.
But the most important issues that figure your home's value are specific to the local Davie economy and residential market.
Location in a community - Proximity to jobs and schools also have a huge effect on many home buyers' decisions.
So when it comes to retaining their value, these communities usually appreciate much more reliably than areas lacking key features.
Recent sales - Your agent should give you figures on the recent home sales in the neighborhoods that you'd like to live in. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have home prices increased or decreased over the past 5 to 10 years? Is the community thought to be desirable because of its location or affordability?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a good mixture of work in an area, or does it rely upon just one industry?
All these play a part.
Identifying the factors that play into your home's worth is important.
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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