Home values are constantly moving up and down.
Almost always, house values appreciate in the long term.
But there are no guarantees in real estate.
When your property appreciates you have a greater asset to borrow against, and you'll make a higher profit when you sell.
Property values in Naples change for a variety of reasons, so how do you know what you're purchasing today won't depreciate the day after you close?
Choosing a real estate agent in Naples who understands the factors that influence local prices is the most important element to consider.
What is the greatest factor affecting real estate appreciation? Many assume that it's the economy.
interest rates, unemployment, job growth, government programs and several other national determinants have a measurable impact on your property's worth.
However, your home's value and the factors that play the biggest role in its appreciation are specific to the local Naples economy and housing market.
Location in a community - Proximity to schools and jobs also have a great impact on most home buyers' decisions.
So those areas generally appreciate, or hold their value, best.
Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? 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 a login to the local MLS will usually be able to provide a more complete picture.
Appreciation history - Have property prices increased or decreased over the past 5-10 years? Is the neighborhood thought of as desirable because of its location or affordability?
Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a fair combination of job types in an area, or does it depend on just one industry?
All these play a role.