Property values are constantly moving up and down. Home values appreciate in the long term generally. But there is always a certain amount of risk in real estate.
When your home appreciates you have more resources to borrow against, and you'll produce a better profit when you sell. But how do you know what you're purchasing this year will appreciate over time? Property values in Naples vary for many different reasons. It's important that you choose an agent in Naples who can identify the factors that drive local prices.
What is the most important factor affecting real estate appreciation? Many guess that it's the economy. Obviously, mortgage rates, employment, job growth, government programs and a lot of other national determinants have a noticeable effect on your property's value. But the most significant factors that figure your home's value are particular to the local Naples economy and housing market.
Location in a community - People typically want homes in the regions with the easiest access to amenities, such as our work and schools. So these regions typically appreciate, or retain their value consistently, year to year.
Recent home sales - You should receive information on the recent real estate sales in the neighborhoods that you'd like to live in from your REALTOR®. You'll want to know figures like time on market and seller discounts.
The appreciation history - Is the community thought of as desirable because of its location or affordability? Have property prices gone up or down over the past 5 to 10 years?
Local economy - Is there a nice combination of work in an area, or does it rely on just one industry? Have businesses moved into or away from an area? Are local companies hiring? Each of these pieces plays a part.
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