Understanding Davie property appreciation
Over time, the worth of a home will go up and down.
Over a long enough period of time, house values , for the most part, go up.
But, of course, in real estate there are no "sure things".
When your house appreciates you have a bigger asset to borrow against, and you'll create a larger profit when you sell.
Property values in Davie change for a variety of reasons, so how will you be sure what you're buying this year won't depreciate the day after you close?
The most important thing to consider is that you pick a REALTOR® in Davie who knows the factors that affect local prices.
Many believe that the economy is the greatest factor affecting real estate appreciation.
After all,
there are a lot of issues on a national level that impact your home's value: unemployment, interest rates, the stock market, and more.
But the most influential factors that decide your home's value are specific to the local Davie economy and housing market.
Access to services - Proximity to jobs and schools also have a significant influence on many home buyers' decisions.
So these communities often appreciate, or keep their value, best.
Recent sales - Your real estate agent should give you stats on the recent home sales in the areas that you're interested in. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the area considered desirable because of its location or affordability? Have home prices risen or declined over the past 5 to 10 years?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a nice mixture of job types in an area, or does it rely on just one industry? Is the blend of commercial and residential development changing?
These items play a role.
It's important to learn about the factors that impact your home's value.
Visit
this link for an assessment of your house's value.
Have any questions? Please feel free to call me at (954) 598-0700 or
e-mail me.