Over time, the value of a home will go up and down.
Over a long enough period of time, house values normally appreciate.
But, 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 generate a bigger profit when you sell.
But how will you be sure what you're buying right now will appreciate over time? Property values in Clearwater waver for various reasons.
It's important that you go with a real estate agent in Clearwater who understands the factors that drive local prices.
Many think that the economy is the most critical factor affecting real estate appreciation.
there are quite a few issues on a national level that change your home's value: unemployment, interest rates, business growth, and more.
However, your house's value and the things that play the most significant role in its appreciation are particular to the local Clearwater economy and housing market.
Access to services - Proximity to jobs and schools also have a significant impact on most home buyers' choices.
So when it comes to holding their value, these areas usually appreciate better than others.
Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? Are sellers having to discount much? A lot of data can often be retrieved from public records, but a good agent with a login to the local MLS will often provide a more complete picture.
Appreciation history - Have home prices risen or declined over the last 5 to 10 years? Is the community believed to be desirable because of its location or affordability?
The local economy - Are local companies hiring? Have companies moved into or away from an area? Is there a nice blend of job types in an area, or does it depend on just one industry? Is the mix of commercial and residential development changing?
All these play a role.