Appreciating Property Values
In Clearwater, Florida
Over time, the value of a property will go up and down. House values appreciate in the long term usually. But there is always a certain amount of risk in real estate, of course.
When your property appreciates you have a more valuable asset to borrow against, and you’ll realize a greater profit when you sell. Property values in Clearwater change for many different reasons, so how can you be sure what you’re investing in now won’t depreciate the day after you close? The most important aspect to consider is that you pick a REALTOR® in Clearwater who knows the factors that drive local prices.
The economy is assumed to be the biggest factor impacting real estate appreciation. Naturally, there are a lot of factors on a national level that affect your house’s value: unemployment, interest rates, inflation, and more. However, your house’s value and the factors that play the most significant role in its appreciation are particular to the local Clearwater economy and housing market.
Access to services
Proximity to schools and work also have a major effect on most home buyers’ choices. So when it comes to keeping their value, these regions often appreciate much more reliably than areas lacking key features.
Your agent should provide you with reports on the recent home sales in the neighborhoods that you’d like to live in. You’ll want to know average time on market, selling versus listing price and more.
The appreciation history
Is the area believed to be desirable because of its location or affordability? Have home prices gone up or down over the past 5-10 years?
Is there a good combination of work in an area, or does it rely upon just one industry? Have companies moved into or away from an area? Are local businesses hiring? All these play a role.
It’s important to learn about the factors that affect your house’s value. Please call me at (727) 443-5000 or e-mail me with any questions.