What drives property values in Fort Lauderdale to move up and down?
Home values are constantly moving up and down. Over a long enough period of time, home values , by and large, appreciate. But there are no guarantees in real estate, of course.
When your house appreciates you have a bigger asset to borrow against, and you make a larger profit when you sell. Property values in Fort Lauderdale rise and fall for many different reasons, so how can you be sure what you're purchasing this year won't depreciate the day after you close? Choosing a REALTOR® in Fort Lauderdale who can identify the factors that affect local prices is the most important aspect to consider.
What is the top factor impacting real estate appreciation? Many guess that it's the economy. Obviously, interest rates, employment, job growth, government programs and a lot of other national determinants can always alter your house's worth. However, your property's value and the aspects that play the biggest role in its appreciation are specific to the local Fort Lauderdale economy and housing market.
Access to services - Being close to schools, work and amenities like shopping, restaurants and entertainment is important to a lot of families and will greatly influence home values. So those regions often appreciate, or hold their value, best.
The latest home sales - You should receive figures on the recent real estate sales in the regions that you're interested in from your agent. You'll need to analyze figures like how long a house stays on the market and seller discounts.
History of appreciation - In the past 5-10 years, have property prices gone up or down? Does location or affordability affect how desirable the area is thought to be?
Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a good mixture of work in an area, or does it rely upon just one industry? All these play a role.
Recognizing the factors that influence your house's worth is important. Visit this link for an assessment of your property's value. Please call me at 954-383-4091 or e-mail me with any questions.
Rosendal-Smith-Pardo International Realty, LLC may List, Offer, Consult or recommend a professional who assists with Short Sale properties. To our current and potential clients and customers we make the following notice. IMPORTANT NOTICE: You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender (or servicer). If you reject the offer, you do not have to pay us. If you accept the offer, you will have to pay us according to any listing agreement and/or consultation service agreement. If you stop paying your mortgage, you could loose your home and damage your credit rating. (16 C.F.R. € 322.4(b))
Access to services - Being close to schools, work and amenities like shopping, restaurants and entertainment is important to a lot of families and will greatly influence home values. So those regions often appreciate, or hold their value, best. 
