Real estate values are continually changing.
Over a long enough period of time, property values normally appreciate.
But, of course, in real estate there are no guarantees.
When your home appreciates you have more resources to borrow against, and you'll generate a larger profit when you sell.
But how will you be sure what you're purchasing right now will appreciate over time? Property values in Davie fluctuate for a variety of reasons.
It's important that you go with an agent in Davie who knows the factors that drive local prices.
The economy is believed to be the major factor affecting real estate appreciation.
Naturally,
there are many issues on a national level that change your home's value: unemployment, mortgage rates, business growth, and more.
But the most influential factors that figure your property's value are particular to the local Davie economy and residential market.
Location in a community - Proximity to schools, jobs, and amenities also have a significant effect on many home buyers' choices.
So these areas consistently appreciate, or keep their value consistently, year to year.
Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? Are sellers having to discount much or offer concessions A lot of data can be obtained from public records, but a good agent with a login to the local MLS will often provide a more complete picture.
The appreciation history - Is the area believed to be desirable because of its location or affordability? Have home prices increased or decreased over the last 5-10 years?
The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a good mixture of business in an area, or does it count on just one industry? Is the blend of commercial and residential development changing?
Each of these things plays a role.