Understanding Orlando home prices

Property values are constantly moving up and down. Almost always, property values appreciate in the long term. But, in real estate there is always a certain amount of risk.

When your house appreciates you have a bigger asset to borrow against, and you'll produce a better profit when you sell. There is a variety of reasons why property values in Orlando waver. So, how do you know what you're purchasing right now will appreciate over time? The most important factor to consider is that you select a real estate agent in Orlando who knows the factors that drive local prices.

A lot of people think that the economy is the most critical factor impacting real estate appreciation. It goes without saying that there are numerous factors on a national level that alter your home's value: unemployment, mortgage rates, inflation, and more. However, your property's value and the components that play the most significant role in its appreciation depend on the local Orlando economy and housing market.

Let Royalty Real Estate Boutique, Inc. help you with your first home purchase in Orlando Location in a community - Proximity to schools and jobs also have a major effect on many home buyers' decisions. So when it comes to keeping their value, these areas consistently appreciate better than others.

Recent home sales - How quickly are homes selling? Are sellers needing to discount much or offer concessions A lot of data 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 property prices increased or decreased over the last 5 to 10 years? Is the area thought to be 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 good blend of job types in an area, or does it count on just one industry? Is the blend of commercial and residential development changing? These items play a part.

Recognizing the factors that affect your house's value is important. Get an evaluation of your house's value here. Call me at 407-380-6363 or e-mail me if you have any questions at all. I'd love to hear from you.