Real estate values are continually changing.
Over a long enough period of time, house values generally go up.
But, of course, there are no "sure things" in real estate.
When your house appreciates you have more resources to borrow against, and you'll create a higher profit when you sell.
But how do you know what you're investing in this year will appreciate over time? Property values in Fort Myers waver for different reasons.
It's critical that you choose a real estate agent in Fort Myers who understands the factors that affect local prices.
The economy is assumed to be the number one factor affecting real estate appreciation.
mortgage rates, employment, business growth, government programs and a handful of other national determinants have a definite influence on your home's worth.
But the most significant things that figure your property's value are specific to the local Fort Myers economy and residential market.
Access to services - Being close to schools, jobs and amenities like shopping, restaurants and entertainment is a big deal to a lot of us and will greatly influence home values.
So these areas typically appreciate, or keep their value consistently, year to year.
Recent sales - Your REALTOR® should provide you with information on the recent real estate sales in the regions that you'd like to live in. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the past 5-10 years, have property prices risen or declined? Does location or affordability affect how desirable the neighborhood is thought to be?
Local economy - Is there a nice mixture of business in an area, or does it rely upon just one industry? Have companies moved into or away from an area? Are local companies hiring?
These items play a role.