Property prices are constantly moving up and down.
Over a long enough period of time, house values , for the most part, go up.
But, of course, there is always a certain amount of risk in real estate.
When your house appreciates you have a bigger asset to borrow against, and you'll generate a larger profit when you sell.
Property values in Naples rise and fall for many different reasons, so how can you be sure what you're purchasing now won't depreciate the day after you close?
Choosing a REALTOR® in Naples who is familiar with the factors that affect local prices is the most important part.
Many are convinced that the economy is the number one factor impacting real estate appreciation.
there are quite a few issues on a national level that impact your property's value: unemployment, mortgage rates, the stock market, and more.
However, your home's value and the things that play the biggest role in its appreciation are particular to the local Naples economy and housing market.
Location in a community - Being close to schools, employment and amenities like shopping, restaurants and entertainment is important to many us and will greatly influence home values.
So those areas consistently appreciate, or keep their value consistently, year to year.
Real estate sales trends - How fast are homes selling? Are sellers having to discount much or offer concessions Some information can be retrieved from public records, but a good agent with a login to the local MLS will usually be able to provide a more complete picture.
The appreciation history - Is the area thought to be desirable because of its location or affordability? Have home prices increased or decreased over the past 5-10 years?
Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a good mix of work in an area, or does it count on just one industry?
All these play a part.