Understanding Naples home prices
Property values are continually changing. Property values appreciate in the long term almost always. But there are no guarantees in real estate.
When your home appreciates you have more equity to borrow against, and you'll generate a bigger profit when you sell. But how do you know what you're purchasing now will appreciate over time? Property values in Naples shift for different reasons. It's important that you go with an agent in Naples who knows the factors that drive local prices.
What is the biggest factor impacting real estate appreciation? Many think that it's the economy. It goes without saying that interest rates, unemployment, business growth, government programs and a lot of other national factors have a definite impact on your property's worth. But the most significant issues that decide your house's value are particular to the local Naples economy and residential market.
Location in a community - Many consumers want to live in regions with the most conducive features for families to shine, such as a close proximity to schools and work. So these regions usually appreciate, or carry their value, best.
The latest home sales - How fast are houses selling? Are sellers needing to discount much? A lot of data can often be retrieved from public records, but a good agent with a login to the local MLS will often provide a more complete picture.
The appreciation history - Is the community thought of as desirable because of its location or affordability? Have home prices increased or decreased over the past 5 to 10 years?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a good mixture of work in an area, or does it rely upon just one industry? Each of these pieces plays a part.
It's worthwhile to learn about the factors that influence your property's value. Click here
to get an evaluation of your house's value. Have any questions? Please feel free to call us at 866-300-1550 or e-mail us