Over time, the value of a home will fluctuate up and down.
Over a long enough period of time, house values , in most cases, appreciate.
But, in real estate there is always a certain amount of risk.
When your property appreciates you have more resources to borrow against, and you'll realize a bigger profit when you sell.
But how can you be sure what you're purchasing now will appreciate over time? Property values in Orlando move up and down for many different reasons.
Choosing a REALTOR® in Orlando who knows the factors that influence local prices is the most important part.
What is the major factor impacting real estate appreciation? Many think that it's the economy.
there are numerous issues on a national level that adjust your home's value: unemployment, mortgage rates, inflation, and more.
But the most significant things that determine your home's value are particular to the local Orlando economy and residential market.
Access to services - Most people want homes in the districts with the easiest access to features, such as our schools, jobs, and shopping.
So these areas consistently appreciate, or retain their value consistently, year to year.
Real estate sales trends - How long do homes typically stay up for sale before closing? Are sellers needing to discount much or offer concessions A lot of data can be retrieved from public records, but a good agent with a login to the local MLS will usually be able to provide a more complete picture.
The appreciation history - Is the area believed to be desirable because of its location or affordability? Have house prices increased or decreased over the past 5-10 years?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a good combination of work in an area, or does it depend on just one industry?
Each of these elements plays a part.