Property prices are continually changing.
Home values appreciate in the long term typically.
But, of course, in real estate there are no "sure things".
When your house appreciates you have a more valuable asset to borrow against, and you'll create a better profit when you sell.
There is a variety of reasons why property values in Naples fluctuate. So, how do you know what you're investing in this year will appreciate over time?
Choosing a REALTOR® in Naples who recognizes the factors that drive local prices is the most important factor.
A lot of people assume that the economy is the biggest factor affecting real estate appreciation.
Clearly,
there are a lot of factors on a national level that adjust your house's value: unemployment, interest rates, quarterly earnings reports, and more.
But the most significant things that figure your property's value are specific to the local Naples economy and residential market.
Location in a community - Proximity to schools, jobs, and amenities also have a major influence on most home buyers' choices.
So when it comes to retaining their value, these regions usually appreciate better than others.
Trends in home sales - What's the time on market? What was the final sales amount versus the listing price? Some information can be retrieved from public records, but a good agent with access to the local MLS will often provide a more complete picture.
History of appreciation - In the last 5 to 10 years, have home prices gone up or down? Does location or affordability affect how desirable the area is considered?
The local economy - Are local businesses hiring? Have businesses moved into or away from an area? Is there a good mixture of job types in an area, or does it rely on just one industry? Is the blend of commercial and residential development changing?
These items play a part.