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

Over time, the value of a property will fluctuate up and down. Property values appreciate in the long term almost always. But there are no guarantees in real estate, of course.

When your property appreciates you have a greater asset to borrow against, and you'll generate a larger profit when you sell. Property values in Orlando change for different reasons, so how will you know what you're buying presently won't depreciate the day after you close? The most important aspect is that you choose a real estate agent in Orlando who can identify the factors that influence local prices.

A lot of people think that the economy is the greatest factor affecting real estate appreciation. It goes without saying that interest rates, employment, job growth, government programs and many other national determinants have a measurable influence on your property's value. However, your property's value and the components that play the biggest 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 Access to services - Many home buyers want to live in regions with the most convenient traits for homes to do well, such as a close proximity to schools and work. So when it comes to keeping their value, these regions typically appreciate better than others.

Recent home sales - You should receive reports on the recent real estate sales in the regions that you're interested in from your real estate agent. You'll need to learn things like how long a house stays on the market and seller discounts.

The appreciation history - Is the community thought of as desirable because of its location or affordability? Have property prices increased or decreased over the past 5-10 years?

Local economy - Is there a nice mix of work in an area, or does it depend on just one industry? Have companies moved into or away from an area? Are local companies hiring? Each of these pieces plays a part.

It's smart to understand the factors that impact your house's worth. Get an estimation 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.