Fluctuating home prices in Starke, Florida: What causes this?

Home values are forever in flux. Generally, property values appreciate in the long term. But, of course, in real estate there are no "sure things".

When your property appreciates you have a larger asset to borrow against, and you'll make a larger profit when you sell. Property values in Starke move up and down for numerous reasons, so how can you be sure what you're buying presently won't depreciate the day after you close? It's critical that you select a REALTOR® in Starke who recognizes the factors that affect local prices.

The economy is thought to be the biggest factor affecting real estate appreciation. It goes without saying that interest rates, employment, business growth, government programs and a handful of other national factors have a noticeable influence on your property's value. However, your property's value and the factors that play the most significant role in its appreciation depend on the local Starke economy and housing market.

Let American Dream of Northeast Florida, Inc. help you with your first home purchase in Starke Access to services - People typically want homes in the regions with the best and most convenient places we go often or everyday, like our schools and work. So these regions often appreciate, or hold their value consistently, year to year.

Real estate sales trends - How long do homes typically stay on the market? What was the selling price compared to the listing price? A lot of data can often be obtained from public records, but a good agent with access to the local MLS will often be able to provide a more complete picture.

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

Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a fair mixture of work in an area, or does it rely upon just one industry? These items play a role.

Knowing the factors that affect your home's worth is important. Click here to get an evaluation of your property's value. Please call us at 904-964-5424 or e-mail us with any questions.

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