Over time, the worth of a piece of real estate will go up and down.
By and large, property values appreciate in the long term.
But, of course, in real estate there is always a certain amount of risk.
When your home appreciates you have a more valuable asset to borrow against, and you'll see a greater profit when you sell.
Property values in Clearwater change for a variety of reasons, so how will you know what you're purchasing presently won't depreciate the day after you close?
Choosing an agent in Clearwater who recognizes the factors that affect local prices is the most important part.
A lot of people believe that the economy is the number one factor affecting real estate appreciation.
interest rates, employment, job growth, government programs and several other national determinants have a measurable effect on your house's value.
However, your house's value and the components that play the most significant role in its appreciation are particular to the local Clearwater economy and housing market.
Access to services - Proximity to schools and work also have a significant influence on all home buyers' decisions.
So these communities often appreciate, or retain their value, best.
Recent sales - Your real estate agent should provide you with figures on the recent real estate sales in the neighborhoods that you'd like to live in. You'll want to know average time on market, selling versus listing price and more.
The appreciation history - Is the neighborhood considered desirable because of its location or affordability? Have home prices increased or decreased over the last 5-10 years?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a fair combination of work in an area, or does it rely on just one industry?
All these play a part.
Are you looking to sell your house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.