Davie home prices: Need some help understanding why they appreciate?
Property prices are forever in flux.
House values appreciate in the long term generally.
But, of course, there are no guarantees in real estate.
When your home appreciates you have more equity to borrow against, and you'll make a larger profit when you sell.
But how will you know what you're buying this year will appreciate over time? Property values in Davie move up and down for different reasons.
It's important that you choose a real estate agent in Davie who understands the factors that influence local prices.
A lot of people believe that the economy is the greatest factor affecting real estate appreciation.
Naturally,
mortgage rates, employment, business growth, government programs and some other national factors have a definite effect on your property's value.
But the most influential things that figure your house's value are particular to the local Davie economy and housing market.
Location in a community - People typically want homes in the areas with the most convenient features, such as our work and schools.
So when it comes to holding their value, these communities consistently appreciate better than others.
Recent sales - Your real estate agent should provide you with stats on the recent home sales in the regions that you're asking about. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the community believed to be desirable because of its location or affordability? Have home prices gone up or down over the past 5 to 10 years?
Local economy - Is there a fair mixture of jobs in an area, or does it depend on just one industry? Have companies moved into or away from an area? Are local companies hiring?
All these play a role.
Identifying the factors that affect your house's price is important.
Click
here to receive an assessment of your property's value.
And if you have any questions, call me at (954) 598-0700 or
e-mail me .