Fluctuating home prices in Boca Raton, Florida: What causes this?

Over time, the value of a piece of real estate will go up and down. Normally, property values appreciate in the long term. But, of course, there are no guarantees in real estate.

When your home appreciates you have a larger asset to borrow against, and you make a better profit when you sell. There is a variety of reasons why property values in Boca Raton fluctuate. So, how do you know what you're purchasing now will appreciate over time? It's imperative that you pick an agent in Boca Raton who knows the factors that drive local prices.

   


What is the biggest factor impacting real estate appreciation? Many guess that it's the economy. Naturally, mortgage rates, employment, business growth, government programs and numerous other national factors have a definite alter your home's value. But the most influential things that figure your house's value are particular to the local Boca Raton economy and residential market.

Let United Realty Group help you with your first home purchase in Boca Raton Access to services - Most people want homes in the regions with the most useful amenities, such as our schools and work. So when it comes to holding their value, these areas usually appreciate the best.

Recent sales - Your agent should give you statistics on the recent real estate sales in the regions that you're interested in. You'll want to know average time on market, selling versus listing price and more.

Appreciation history - Have property prices gone up or down over the past 5-10 years? Is the area believed to be desirable because of its location or affordability?

Local economy - Is there a fair combination of business in an area, or does it rely on just one industry? Have businesses moved into or away from an area? Are local companies hiring? These items play a part.

It's worthwhile to be informed about the factors that affect your home's price. Visit this link for an assessment of your property's value. Have any questions? Please feel free to call me at (561) 826-9333 or e-mail us.

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