What causes Davie home prices to fluctuate?
Home values are continually changing.
Typically, house values appreciate in the long term.
But, in real estate there is always a certain amount of risk.
When your house appreciates you have a bigger asset to borrow against, and you'll see a bigger profit when you sell.
Property values in Davie go up and down for a variety of reasons, so how do you know what you're buying right now won't depreciate the day after you close?
The most important factor to consider is that you pick an agent in Davie who understands the factors that drive local prices.
Many think that the economy is the major factor impacting real estate appreciation.
Obviously,
there are quite a few issues on a national level that adjust your home's value: unemployment, mortgage rates, quarterly earnings reports, and more.
But the most important factors that figure your home's value are specific to the local Davie economy and housing market.
Location in a community - People typically want homes in the districts with the most useful amenities, such as our jobs and schools.
So when it comes to retaining their value, these communities typically appreciate the best.
Recent home sales - You should receive figures on the recent real estate sales in the neighborhoods that you'd like to live in from your agent. You'll need to know data like how long a house stays on the market and seller discounts.
History of appreciation - In the last 5 to 10 years, have house prices increased or decreased? Does location or affordability affect how desirable the community is thought to be?
Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a fair mix of job types in an area, or does it count on just one industry?
Each of these factors plays a role.
It's smart to be informed about the factors that affect your home's worth.
Get an assessment of your house's value
here.
Please call me at (954) 598-0700 or
e-mail me with any questions.