Fluctuating home prices in Orlando, Florida: What causes this?

Property values are constantly moving up and down. Over a long enough period of time, home values typically go up. But, of course, there are no "sure things" in real estate.

When your house appreciates you have more resources to borrow against, and you'll generate a larger profit when you sell. Property values in Orlando shift for numerous reasons, so how will you be sure what you're buying right now won't depreciate the day after you close? It's important that you pick a REALTOR® in Orlando who understands the factors that drive local prices.

The economy is believed to be the most critical factor affecting real estate appreciation. After all, interest rates, unemployment, business growth, government programs and a handful of other national factors have a measurable impact on your home's worth. But the most influential issues that figure your property's value are specific to the local Orlando economy and residential market.

Let Royalty Real Estate Boutique, Inc. help you with your first home purchase in Orlando Location in a community - Proximity to jobs and schools also have a huge impact on most home buyers' decisions. So those areas generally appreciate, or keep their value, best.

Recent home sales - You should receive reports on the recent real estate sales in the areas that you're asking about from your agent. You'll want to analyze figures like how long a house stays on the market and seller discounts.

The appreciation history - Is the community thought to be desirable because of its location or affordability? Have home prices risen or declined over the past 5 to 10 years?

Local economy - Is there a nice mix of jobs in an area, or does it rely on just one industry? Have companies moved into or away from an area? Are local businesses hiring? All these play a part.

It's vital to understand the factors that affect your home's worth. Visit this link for an assessment of your house's value. Have any questions? Please feel free to call me at 407-380-6363 or e-mail me.

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