Appreciating property values in Davie
Over time, the value of a house will go up and down.
Typically, property values appreciate in the long term.
But, in real estate there is always a certain amount of risk.
When your home appreciates you have a larger asset to borrow against, and you'll generate a better profit when you sell.
There are numerous reasons why property values in Davie go up and down. So, how will you know what you're purchasing today will appreciate over time?
It's important that you select a REALTOR® in Davie who can identify the factors that influence local prices.
Many believe that the economy is the most influential factor affecting real estate appreciation.
Obviously,
there are numerous issues on a national level that alter your property's value: unemployment, interest rates, inflation, and more.
However, your house's value and the factors that play the most significant role in its appreciation are specific to the local Davie economy and housing market.
Access to services - Proximity to jobs and schools also have a significant influence on most home buyers' choices.
So when it comes to keeping their value, these areas generally appreciate better than others.
Recent sales - Your REALTOR® should provide you with reports on the recent home sales in the regions 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 gone up or down over the last 5-10 years? Is the community thought to be desirable because of its location or affordability?
Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a nice blend of work in an area, or does it rely upon just one industry?
All these play a part.
It's worthwhile to know the factors that affect your property's worth.
Click
here to get an evaluation of your home's value.
Call me at (954) 598-0700 or
e-mail me if you have any questions at all. I'd love to hear from you.