Many guess that the economy is the most critical factor affecting real estate appreciation.
It goes without saying that mortgage rates, unemployment, job growth, government programs and some other national factors have a measurable impact on your home's worth.
However, your house's value and the elements that play the biggest role in its appreciation are particular to the local
Altamonte Springs economy and housing market.
Access to services
- People typically want homes in the regions with the most useful features, such as our schools and work. So these regions usually appreciate, or carry their value, best.
Recent home sales
- How long are homes on the market? Are sellers having 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 provide a more complete picture.
History of appreciation
- In the last 5 to 10 years, have property prices increased or decreased? Does location or affordability affect how desirable the area is believed to be?
- Have businesses moved into or away from an area? Are local companies hiring? Is there a good mix of jobs in an area, or does it count on just one industry? Each of these factors plays a part.
It's smart to learn about the factors that influence your house's value. Visit this link for an evaluation of your home's value. Please call me at 407-774-9858 or e-mail me with any questions.