Understanding Brevard County Home Prices
Home values are forever in flux. Over a long enough period of time, property values , for the most part, go up. But there is always a certain amount of risk in real estate.
When your house appreciates you have more resources to borrow against, and you'll make a bigger profit when you sell. Property values in Brevard County rise and fall for various reasons, so how will you be sure what you're purchasing this year won't depreciate the day after you close? The most important factor is that you select an agent in the area who knows the factors that affect local prices.
Many guess that the economy is the greatest factor affecting real estate appreciation. After all, there are some factors on a national level that adjust your property's value: unemployment, mortgage rates, consumer confidence, and more. However, your property's value and the things that play the biggest role in its appreciation are particular to the local economy and housing market.
Location in a community - Many of us wish to live in areas with the best and most convenient elements for homes to do well, such as a close proximity to schools, jobs, and work. So those communities often appreciate, or keep their value consistently, year to year.
Recent sales - Your real estate agent should provide you with data on the recent real estate sales in the districts 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 community thought of as desirable because of its location or affordability?
Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a good combination of job types in an area, or does it rely upon just one industry? These items play a role.
It's vital to be informed about the factors that impact your property's value. Get an assessment of your house's value here
. And if you have any questions, call us at 321-543-5503 (Neal) 321-544-9237 (Zack) or e-mail us