Over time, the value of a house will go up and down.
Home values appreciate in the long term by and large.
But there is always a certain amount of risk in real estate.
When your house appreciates you have more equity to borrow against, and you get a larger profit when you sell.
Property values in Clearwater vary for many different reasons, so how do you know what you're investing in now won't depreciate the day after you close?
Choosing a REALTOR® in Clearwater who can identify the factors that drive local prices is the most important element.
What is the greatest factor impacting real estate appreciation? Many are convinced that it's the economy.
there are a handful of issues on a national level that influence your property's value: unemployment, mortgage rates, quarterly earnings reports, and more.
But the most significant issues that figure your house's value depend on the local Clearwater economy and residential market.
Location in a community - Proximity to jobs and schools also have a great influence on almost all home buyers' decisions.
So when it comes to keeping their value, these regions typically appreciate the best.
The latest home sales - How fast are homes selling? What was the final sales amount versus the asking price? Some information can be retrieved from public records, but a good agent with a login to the local MLS will often provide a more complete picture.
History of appreciation - In the last 5 to 10 years, have house prices gone up or down? Does location or affordability affect how desirable the area is thought of as?
Local economy - Is there a good combination of jobs in an area, or does it rely upon just one industry? Have businesses moved into or away from an area? Are local companies hiring?
Each of these pieces plays a role.
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