Property values are forever in flux.
House values appreciate in the long term usually.
But, in real estate there is always a certain amount of risk.
When your house appreciates you have a more valuable asset to borrow against, and you'll realize a bigger profit when you sell.
But how will you know what you're purchasing now will appreciate over time? Property values in Naples go up and down for different reasons.
Choosing an agent in Naples who knows the factors that influence local prices is the most important thing to consider.
Many guess that the economy is the top factor impacting real estate appreciation.
interest rates, unemployment, job growth, government programs and a handful of other national factors have a definite effect on your home's value.
However, your home's value and the aspects that play the most significant role in its appreciation are particular to the local Naples economy and housing market.
Access to services - Many of us choose to live in regions with the most accommodating features for households to thrive, such as a close proximity to schools, jobs, and work.
So when it comes to retaining their value, these communities typically appreciate better than others.
Trends in home sales - What's the time on market? What was the final sales amount compared to the asking price? A lot of data can often be obtained from public records, but a good agent with access to the local MLS will usually be able to provide a more complete picture.
Appreciation history - Have home prices risen or declined over the last 5-10 years? Is the neighborhood believed to be desirable because of its location or affordability?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a fair blend of business in an area, or does it depend on just one industry? Is the blend of commercial and residential zoning changing?
Each of these elements plays a part.