Real estate prices are continually changing.
Usually, property values appreciate in the long term.
But, in real estate there is always a certain amount of risk.
When your property appreciates you have a greater asset to borrow against, and you'll see a greater profit when you sell.
There are different reasons why property values in Fort Myers shift. So, how will you be sure what you're buying now will appreciate over time?
The most important element is that you go with a real estate agent in Fort Myers who is familiar with the factors that influence local prices.
The economy is believed to be the biggest factor impacting real estate appreciation.
there are a lot of factors on a national level that affect your property's value: unemployment, interest rates, business growth, and more.
But the most significant things that figure your property's value depend on the local Fort Myers economy and housing market.
Location in a community - Most people want homes in the areas with the most convenient features, like our schools and work.
So when it comes to keeping their value, these regions consistently appreciate better than others.
Recent sales - Your REALTOR® should give you statistics on the recent real estate sales in the regions that you're asking about. You'll want to know average time on market, selling versus listing price and more.
Appreciation history - Have house prices risen or declined over the last 5-10 years? Is the community considered desirable because of its location or affordability?
The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a good blend of business in an area, or does it depend on just one industry? Is the mix of commercial and residential development changing?
All these play a role.