Property prices are constantly moving up and down. Property values appreciate in the long term for the most part. But, in real estate there are no guarantees.
When your home appreciates you have a larger asset to borrow against, and you'll generate a higher profit when you sell. Property values in Naples go up and down for a variety of reasons, so how do you know what you're purchasing now won't depreciate the day after you close? Choosing a REALTOR® in Naples who can identify the factors that influence local prices is the most important thing.
What is the biggest factor impacting real estate appreciation? Many guess that it's the economy. It goes without saying that there are a lot of issues on a national level that influence your house's value: unemployment, interest rates, the stock market, and more. But the most important factors that figure your home's value are particular to the local Naples economy and residential market.
Location in a community - Most people want homes in the areas with the easiest access to amenities, like our schools and work. So when it comes to holding their value, these areas usually appreciate better than others.
Recent sales - Your REALTOR® should provide you with stats on the recent home sales in the regions that you're asking about. 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 property prices increased or decreased? Does location or affordability affect how desirable the community is considered?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a good mix of business in an area, or does it count on just one industry? All these play a part.
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