Real estate prices are continually changing.
Home values appreciate in the long term usually.
But, of course, there are no "sure things" in real estate.
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 vary. So, how will you know what you're investing in right now will appreciate over time?
Choosing an agent in Naples who knows the factors that affect local prices is the most important part.
The economy is thought to be the biggest factor impacting real estate appreciation.
there are some factors on a national level that alter your property's value: unemployment, mortgage rates, the stock market, and more.
But the most important factors that determine your house's value are particular to the local Naples economy and residential market.
Location in a community - Being close to schools, work and amenities like shopping, restaurants and entertainment is important to a lot of buyers and will greatly influence home values.
So when it comes to holding their value, these regions generally appreciate better than others.
Real estate sales trends - How fast are houses selling? What was the selling price versus the asking price? Some information can often be retrieved from public records, but a good agent with access to the local MLS will usually be able to provide a more complete picture.
Appreciation history - Have house prices risen or declined over the past 5 to 10 years? Is the community considered desirable because of its location or affordability?
Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a fair mix of business in an area, or does it rely upon just one industry?
Each of these elements plays a part.