Understanding home prices
Real estate prices are constantly moving up and down. Normally, home values appreciate in the long term. But, of course, in real estate there is always a certain amount of risk.
When your home appreciates you have more equity to borrow against, and you'll produce a larger profit when you sell. But how do you know what you're investing in now will appreciate over time? Property values waver for many different reasons. Choosing a real estate agent who is familiar with the factors that influence local prices is the most important part. Agents with Sawgrass Realty of the Treasure Coast are local experts. Our team is very familiar with the property values in Port St Lucie, Stuart, Jensen Beach, Hutchinson Island, Palm City and the surrounding areas of both St Lucie County and Martin County.
What is the most critical factor affecting real estate appreciation? Many guess that it's the economy. Obviously, there are many issues on a national level that adjust your house's value: unemployment, interest rates, consumer confidence, and more. However, your home's value and the elements that play the most significant role in its appreciation are particular to the local economy and housing market.
Location in a community - Convenient access to schools, work and amenities like shopping, restaurants and entertainment is a priority to a lot of families and will greatly influence home values. So those regions generally appreciate, or keep their value consistently, year to year.
Recent sales - Your real estate agent should give you data on the recent real estate sales in the neighborhoods that you'd like to live in. You'll want to know average time on market, selling versus listing price and more.
History of appreciation - In the last 5 to 10 years, have home prices risen or declined? Does location or affordability affect how desirable the area is considered?
The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a fair combination of job types in an area, or does it count on just one industry? Is the blend of commercial and residential zoning changing? Each of these items plays a part.
When you do sell - Choosing a Real Estate Agency to sell your home is a very important decision. An agency that understands the nuances of selling and the searching habits of potential buyers is crucial. The Macklin Team with Sawgrass Realty of the Treasure Coast is experienced in all aspects of buying and selling. There is a large list that separates us from our competing agencies in the area. Contact us today so you can experience what we have to offer.
Knowing the factors that impact your house's financial worth is important. Get an estimation of your property's value here
. Call us at (772) 340-6116 or fill out the form below if you have any questions at all. We'd love to hear from you.