Home values are constantly moving up and down.
House values appreciate in the long term typically.
But there are no "sure things" in real estate.
When your home appreciates you have a bigger asset to borrow against, and you make a larger profit when you sell.
Property values in Davie vary for different 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 Davie who is familiar with the factors that influence local prices is the most important factor to consider.
Many believe that the economy is the most influential factor impacting real estate appreciation.
After all,
there are several issues on a national level that change your home's value: unemployment, mortgage rates, the stock market, and more.
But the most important things that determine your home's value are specific to the local Davie economy and housing market.
Location in a community - Convenient access to schools, work and amenities like shopping, restaurants and entertainment is important to a lot of buyers and will greatly influence home values.
So these areas generally appreciate, or carry their value consistently, year to year.
Prior home sales - What's the time on market? Are sellers having to discount much or offer concessions A lot of data can be obtained from public records, but a good agent with access to the local MLS will usually provide a more complete picture.
Appreciation history - Have home prices increased or decreased over the last 5 to 10 years? Is the neighborhood believed to be desirable because of its location or affordability?
Local economy - Is there a fair mix of work in an area, or does it rely on just one industry? Have businesses moved into or away from an area? Are local companies hiring?
Each of these factors plays a part.