Home prices are constantly moving up and down.
Over a long enough period of time, property values usually appreciate.
But, of course, in real estate there is always a certain amount of risk.
When your home appreciates you have a greater asset to borrow against, and you'll realize a bigger profit when you sell.
Property values in Orlando shift for many different reasons, so how can you be sure what you're investing in presently won't depreciate the day after you close?
It's critical that you go with a real estate agent in Orlando who is familiar with the factors that drive local prices.
A lot of people assume that the economy is the top factor affecting real estate appreciation.
interest rates, unemployment, job growth, government programs and quite a few other national determinants have a noticeable effect on your house's worth.
However, your home's value and the aspects that play the most significant role in its appreciation depend on the local Orlando economy and housing market.
Location in a community - Proximity to schools, jobs, and amenities also have a great impact on almost all home buyers' decisions.
So these areas usually appreciate, or hold their value, best.
Real estate sales trends - How long do homes typically stay on the market? Are sellers needing to discount much? Some information can be obtained from public records, but a good agent with a login to the local MLS will usually provide a more complete picture.
History of appreciation - In the past 5-10 years, have property prices gone up or down? Does location or affordability affect how desirable the area is believed to be?
Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a good combination of work in an area, or does it rely upon just one industry?
All these play a role.