Understanding property appreciation

Property values are forever in flux. Usually, house values appreciate in the long term. But there are no "sure things" in real estate.

When your property appreciates you have a greater asset to borrow against, and you'll generate a larger profit when you sell. Property values move up and down for a variety of reasons, so how do you know what you're purchasing right now won't depreciate the day after you close? Choosing a real estate agent who is familiar with the factors that influence local prices is the most important element to consider.

Find My Home's Value

A lot of people guess that the economy is the number one factor affecting real estate appreciation. Obviously, mortgage rates, employment, job growth, government programs and some other national determinants have a definite affect your house's worth. But the most important things that determine your home's value depend on the local economy and housing market.

Let Proluxe Real Estate Services help you with your first home purchase in Oldsmar

Let Proluxe Real Estate Services help you with your first home purchase in Oldsmar

Location in a community - Proximity to schools and work also have a major impact on most home buyers' choices. So those areas typically appreciate, or hold their value, best.

Recent sales - Your REALTOR^® should give you statistics on the recent home sales in the areas that you'd like to live in. You'll want to know average time on market, selling versus listing price and more.

History of appreciation - In the past 5 to 10 years, have house prices gone up or down? Does location or affordability affect how desirable the community is thought to be?

The local economy - Are local companies hiring? Have businesses moved into or away from an area? Is there a fair combination of work in an area, or does it rely on just one industry? Is the blend of commercial and residential development changing? These items play a part.


	It's vital to learn about the factors that affect your home's market price. Visit this link for an estimation of your property's value. Call me at 727-532-3020 or e-mail me if you have any questions at all. I'd love to hear from you.