Understanding Naples home prices

Over time, the worth of a piece of real estate will fluctuate up and down. Over a long enough period of time, home values , by and large, go up. But, of course, there are no "sure things" in real estate.

When your property appreciates you have a bigger asset to borrow against, and you'll create a larger profit when you sell. Property values in Naples fluctuate for many different reasons, so how will you be sure what you're purchasing this year won't depreciate the day after you close? The most important element to consider is that you go with a real estate agent in Naples who knows the factors that drive local prices.

A lot of people think that the economy is the major factor affecting real estate appreciation. Clearly, mortgage rates, employment, business growth, government programs and several other national determinants have a measurable impact on your property's worth. However, your property's value and the things that play the most significant role in its appreciation are specific to the local Naples economy and housing market.

Let Metro Properties help you with your first home purchase in Naples Access to services - Many consumers choose to live in districts with the most conducive characteristics for homes to do well, like a close proximity to schools and work. So when it comes to retaining their value, these areas typically appreciate much more reliably than areas lacking key features.

Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? What was the selling price compared to the listing price? Some information can often be obtained from public records, but a good agent with access to the local MLS will usually provide a more complete picture.

Appreciation history - Have house prices risen or declined over the past 5-10 years? Is the community considered desirable because of its location or affordability?

The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a nice mix of jobs in an area, or does it rely upon just one industry? Is the blend of commercial and residential development changing? All these play a role.

It's worthwhile to understand the factors that affect your property's financial worth. Click here to get an evaluation of your home's value. Have any questions? Please feel free to call me at 866-300-1550 or e-mail me.

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