Over time, the value of a house will fluctuate up and down.
Property values appreciate in the long term for the most part.
But there are no "sure things" in real estate.
When your home appreciates you have a larger asset to borrow against, and you get a higher profit when you sell.
There are numerous reasons why property values in Fort Myers fluctuate. So, how will you be sure what you're buying right now will appreciate over time?
The most important part is that you go with a REALTOR® in Fort Myers who understands the factors that influence local prices.
The economy is believed to be the number one factor impacting real estate appreciation.
there are several factors on a national level that adjust your home's value: unemployment, mortgage rates, consumer confidence, and more.
However, your property's value and the factors that play the biggest role in its appreciation are specific to the local Fort Myers economy and housing market.
Access to services - Proximity to schools and work also have a huge impact on many home buyers' choices.
So those communities consistently appreciate, or keep their value consistently, year to year.
The latest home sales - You should receive figures on the recent real estate sales in the regions that you're asking about from your REALTOR®. You'll want to know data like how long a house stays on the market and asking price versus selling price.
Appreciation history - Have house prices increased or decreased over the past 5-10 years? Is the community thought to be desirable because of its location or affordability?
The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a fair mix of work in an area, or does it rely on just one industry? Is the blend of commercial and residential development changing?
Each of these pieces plays a role.