Property values are constantly moving up and down.
Over a long enough period of time, home values normally go up.
But, of course, in real estate there are no "sure things".
When your house appreciates you have more equity to borrow against, and you'll generate a larger profit when you sell.
But how will you know what you're investing in today will appreciate over time? Property values in Naples vary for numerous reasons.
Choosing an agent in Naples who can identify the factors that influence local prices is the most important thing to consider.
Many are convinced that the economy is the most crucial factor affecting real estate appreciation.
interest rates, unemployment, job growth, government programs and quite a few other national determinants have a noticeable impact on your property's worth.
However, your home's value and the things that play the most significant role in its appreciation are specific to the local Naples economy and housing market.
Location in a community - Many of us choose to live in districts with the most useful traits for homes to succeed, such as a close proximity to schools and work.
So these communities consistently appreciate, or retain their value consistently, year to year.
Recent sales - Your real estate agent should provide you with data on the recent real estate sales in the districts that you're asking about. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the last 5-10 years, have home prices increased or decreased? Does location or affordability affect how desirable the area is believed to be?
The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a good blend of business in an area, or does it rely on just one industry? Is the mix of commercial and residential development changing?
These items play a part.