Real estate values are forever in flux.
Over a long enough period of time, home values generally go up.
But, of course, in real estate there is always a certain amount of risk.
When your home appreciates you have a greater asset to borrow against, and you'll create a bigger profit when you sell.
But how can you be sure what you're purchasing today will appreciate over time? Property values in Cape Coral go up and down for numerous reasons.
The most important aspect to consider is that you pick a real estate agent in Cape Coral who knows the factors that influence local prices.
The economy is believed to be the top factor impacting real estate appreciation.
mortgage rates, employment, job growth, government programs and numerous other national factors have a noticeable influence on your property's worth.
However, your property's value and the things that play the most significant role in its appreciation are specific to the local Cape Coral economy and housing market.
Location in a community - Being close to schools, employment and amenities like shopping, restaurants and entertainment is important to a lot of us and will greatly influence home values.
So these areas generally appreciate, or carry their value consistently, year to year.
Trends in home sales - Are homes on the market 30, 60, or 90 days or even longer? What was the final sales amount compared to the listing price? Some information can 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.
History of appreciation - In the past 5 to 10 years, have house prices risen or declined? Does location or affordability affect how desirable the community is considered?
Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a nice combination of work in an area, or does it count on just one industry?
Each of these items plays a part.