Real estate values are constantly moving up and down.
Property values appreciate in the long term almost always.
But, of course, in real estate there is always a certain amount of risk.
When your house appreciates you have more equity to borrow against, and you'll realize a better profit when you sell.
But how do you know what you're investing in presently will appreciate over time? Property values in Fort Myers change for different reasons.
Choosing a REALTOR® in Fort Myers who is familiar with the factors that affect local prices is the most important element to consider.
The economy is assumed to be the number one factor impacting real estate appreciation.
interest rates, employment, business growth, government programs and many other national determinants have a definite influence on your house's value.
But the most important issues that decide your home's value depend on the local Fort Myers economy and housing market.
Location in a community - Many consumers prefer to live in regions with the most useful amenities for families to thrive, like a close proximity to schools and work.
So when it comes to holding their value, these communities often appreciate the best.
Recent sales - Your agent should provide you with statistics on the recent home 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.
The appreciation history - Is the community thought of as desirable because of its location or affordability? Have property prices risen or declined over the past 5-10 years?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a nice mixture of work in an area, or does it rely on just one industry? Is the blend of commercial and residential zoning changing?
These items play a part.