Understanding Pensacola home prices

Home prices are constantly moving up and down. Usually, home values appreciate in the long term. But, of course, there is always a certain amount of risk in real estate.

When your home appreciates you have a larger asset to borrow against, and you make a better profit when you sell. Property values in Pensacola change for different reasons, so how will you be sure what you're purchasing right now won't depreciate the day after you close? Choosing an agent in Pensacola who understands the factors that drive local prices is the most important aspect.

The economy is assumed to be the number one factor affecting real estate appreciation. It goes without saying that there are quite a few issues on a national level that impact your home's value: unemployment, interest rates, business growth, and more. However, your house's value and the aspects that play the most significant role in its appreciation are specific to the local Pensacola economy and housing market.

Let Xcellence Realty INC help you with your first home purchase in Pensacola Location in a community - Most people want homes in the districts with the easiest access to places we go often or everyday, like our schools, jobs, and shopping. So when it comes to holding their value, these regions generally appreciate the best.

Trends in home sales - How long are homes on the market? Are sellers needing to discount much? Some information can often be obtained from public records, but a good agent with a login to the local MLS will often provide a more complete picture.

Appreciation history - Have home prices risen or declined over the past 5 to 10 years? Is the neighborhood thought to be desirable because of its location or affordability?

Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a nice combination of business in an area, or does it depend on just one industry? All these play a role.

It's wise to know the factors that play into your home's value. Click here to get an assessment of your property's value. Call me at 850-232-8844 or e-mail me if you have any questions at all. I'd love to hear from you.

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