Real estate values are continually changing.
By and large, property values appreciate in the long term.
But there is always a certain amount of risk in real estate.
When your house appreciates you have a more valuable asset to borrow against, and you'll see a larger profit when you sell.
Property values in Clearwater move up and down for numerous reasons, so how will you be sure what you're purchasing today won't depreciate the day after you close?
It's imperative that you go with a REALTOR® in Clearwater who recognizes the factors that drive local prices.
The economy is assumed to be the greatest factor affecting real estate appreciation.
there are a lot of issues on a national level that impact your property's value: unemployment, interest rates, quarterly earnings reports, and more.
But the most significant factors that decide your house's value depend on the local Clearwater economy and housing market.
Access to services - Many consumers decide to live in areas with the most helpful characteristics for homes to shine, such as a close proximity to schools, jobs, and work.
So when it comes to holding their value, these regions typically appreciate better than others.
Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? What was the selling price compared to the listing price? A lot of data can often be obtained from public records, but a good agent with access to the local MLS will often be able to provide a more complete picture.
Appreciation history - Have house prices increased or decreased over the last 5-10 years? Is the area believed to be desirable because of its location or affordability?
Local economy - Is there a fair mixture of jobs in an area, or does it rely upon just one industry? Have companies moved into or away from an area? Are local businesses hiring?
Each of these things plays a part.