What causes Miami home prices to fluctuate?

Property values are continually changing. Over a long enough period of time, property values , in most cases, appreciate. But, of course, in real estate there are no guarantees.

When your home appreciates you have a more valuable asset to borrow against, and you'll see a better profit when you sell. But how will you be sure what you're buying now will appreciate over time? Property values in Miami waver for numerous reasons. Choosing a real estate agent in Miami who recognizes the factors that affect local prices is the most important part.

A lot of people assume that the economy is the number one factor impacting real estate appreciation. After all, there are a lot of factors on a national level that impact your house's value: unemployment, interest rates, quarterly earnings reports, and more. However, your home's value and the components that play the biggest role in its appreciation depend on the local Miami economy and housing market.

Let Delphi Investment Realty help you with your first home purchase in Miami Location in a community - People typically want homes in the areas with the most useful places we go often or everyday, such as our jobs and schools. So these communities often appreciate, or hold their value consistently, year to year.

Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? Are sellers having to discount much? Some information can be obtained from public records, but a good agent with access to the local MLS will often provide a more complete picture.

The appreciation history - Is the community considered desirable because of its location or affordability? Have house prices gone up or down over the last 5-10 years?

Economic factors - Have businesses moved into or away from an area? Are local companies hiring? Is there a nice combination of work in an area, or does it rely on just one industry? Each of these elements plays a role.

It's important to learn about the factors that influence your property's market price. Get an assessment of your property's value here. Have any questions? Please feel free to call me at (786) 388-0110 or e-mail me.

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Delphi Investment Realty

6303 Blue Lagoon Drive Suite 400
Miami, FL 33126