Appreciating property values in Davie
Over time, the worth of a home will fluctuate up and down.
House values appreciate in the long term almost always.
But, in real estate there are no guarantees.
When your house appreciates you have a larger asset to borrow against, and you'll generate a better profit when you sell.
Property values in Davie shift for various reasons, so how do you know what you're purchasing this year won't depreciate the day after you close?
The most important element is that you select an agent in Davie who knows the factors that affect local prices.
The economy is believed to be the greatest factor affecting real estate appreciation.
Naturally,
there are a lot of factors on a national level that change your home's value: unemployment, interest rates, inflation, and more.
But the most significant factors that decide your property's value are specific to the local Davie economy and housing market.
Access to services - Proximity to work and schools also have a significant influence on many home buyers' decisions.
So those regions typically appreciate, or hold their value, best.
Recent home sales - How long do homes typically stay on the market? What was the final sales amount compared to the asking price? Some information can be retrieved from public records, but a good agent with a login to the local MLS will usually provide a more complete picture.
History of appreciation - In the last 5 to 10 years, have home prices gone up or down? Does location or affordability affect how desirable the area is thought to be?
Local economy - Is there a nice mixture of work in an area, or does it depend on just one industry? Have businesses moved into or away from an area? Are local companies hiring?
Each of these factors plays a part.
It's vital to understand the factors that affect your property's financial worth.
Click
here to receive an assessment of your property'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.