Home values are constantly moving up and down.
Home values appreciate in the long term for the most part.
But, in real estate there are no "sure things".
When your house appreciates you have a greater asset to borrow against, and you'll generate a bigger profit when you sell.
But how will you be sure what you're investing in presently will appreciate over time? Property values in Miami rise and fall for various reasons.
The most important factor to consider is that you pick a real estate agent in Miami who knows the factors that drive local prices.
Many are convinced that the economy is the most crucial factor impacting real estate appreciation.
mortgage rates, employment, job growth, government programs and many other national determinants have a measurable influence on your property's worth.
However, your house's value and the components that play the biggest role in its appreciation are specific to the local Miami economy and housing market.
Access to services - Proximity to schools and jobs also have a great influence on many home buyers' decisions.
So when it comes to keeping their value, these regions typically appreciate much more reliably than areas lacking key features.
Real estate sales trends - How long do homes typically stay up for sale before closing? What was the final sales amount compared to the asking price? Some information can be retrieved from public records, but a good agent with a login to the local MLS will usually be able to provide a more complete picture.
The appreciation history - Is the community believed to be desirable because of its location or affordability? Have house prices risen or declined over the last 5 to 10 years?
Local economy - Is there a nice mix of jobs in an area, or does it rely on just one industry? Have companies moved into or away from an area? Are local businesses hiring?
These items play a part.
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