Home prices are constantly moving up and down.
Normally, house values appreciate in the long term.
But, in real estate there are no guarantees.
When your house appreciates you have more resources to borrow against, and you'll create a greater profit when you sell.
But how can you be sure what you're purchasing right now will appreciate over time? Property values in Orlando vary for various reasons.
It's critical that you go with a REALTOR® in Orlando who recognizes the factors that affect local prices.
What is the biggest factor affecting real estate appreciation? Many think that it's the economy.
there are quite a few issues on a national level that adjust your property's value: unemployment, mortgage rates, consumer confidence, and more.
But the most important factors that figure your home's value are particular to the local Orlando economy and residential 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 these communities usually appreciate, or keep their value, best.
Real estate sales trends - How long do homes typically stay on the market? Are sellers having to discount much? A lot of data can be retrieved from public records, but a good agent with access to the local MLS will usually be able to provide a more complete picture.
History of appreciation - In the past 5 to 10 years, have home prices risen or declined? Does location or affordability affect how desirable the neighborhood is considered?
Local economy - Is there a fair blend of jobs in an area, or does it rely upon just one industry? Have businesses moved into or away from an area? Are local companies hiring?
All these play a role.