What causes Naples home prices to fluctuate?

Home values are constantly moving up and down. Typically, home values appreciate in the long term. But, of course, there are no guarantees in real estate.

When your property appreciates you have more equity to borrow against, and you'll see a better profit when you sell. Property values in Naples go up and down for different reasons, so how can you be sure what you're purchasing right now won't depreciate the day after you close? It's imperative that you go with a REALTOR® in Naples who recognizes the factors that affect local prices.

The economy is assumed to be the greatest factor affecting real estate appreciation. It goes without saying that there are quite a few issues on a national level that influence your house's value: unemployment, mortgage rates, business growth, and more. But the most significant things that decide your house's value are particular to the local Naples economy and residential market.

Let Metro Properties help you with your first home purchase in Naples Location in a community - Many consumers decide to live in areas with the most convenient elements for homes to thrive, like a close proximity to jobs and schools. So when it comes to holding their value, these communities typically appreciate better than others.

Recent home sales - Are homes on the market 30, 60, or 90 days or even longer? What was the selling price versus the listing price? A lot of data can be obtained from public records, but a good agent with access to the local MLS will often be able to provide a more complete picture.

The appreciation history - Is the area considered 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 fair mixture of work in an area, or does it rely on just one industry? Is the mix of commercial and residential zoning changing? Each of these factors plays a role.

Learning the factors that impact your house's value is important. Visit this link for an evaluation of your property's value. Please call me at 866-300-1550 or e-mail me with any questions.

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