Fluctuating Home Prices in Tallahassee
Property prices are continually changing. For the most part, property values appreciate in the long term. But, in real estate there are no "sure things".
When your home appreciates you have a larger asset to borrow against, and you'll produce a larger profit when you sell. But how will you know what you're buying right now will appreciate over time? Property values in Tallahassee change for many different reasons. Choosing a real estate agent in Tallahassee who understands the factors that affect local prices is the most important part.
What is the most critical factor impacting real estate appreciation? Many guess that it's the economy. Clearly, mortgage rates, unemployment, business growth, government programs and numerous other national determinants have a measurable effect on your property's worth. But the most important things that determine your home's value are particular to the local Tallahassee economy and residential market. Ask us for a complimentary quarterly "Supply of Homes" - an absorption rate chart that is a good indicator of supply & demand in the Tallahassee area. Demand can drive appreciation.
Access to services - Convenient access to schools, employment and amenities like shopping, restaurants and entertainment is a big deal to many us and will greatly influence home values. So when it comes to keeping their value, these communities usually appreciate the best. Ask us about Midtown and other walkable neighborhoods.
The latest home sales - We can provide stats on the recent real estate sales in the neighborhoods that you're living in or interested in. We'll help you analyze data - like how long a house stays on the market and seller discounts & concessions.
The appreciation history - Is the area believed to be desirable because of its location or affordability? Have home prices increased or decreased over the last 5-10 years?
Economic factors - Have businesses moved into or away from an area? Are local businesses hiring? Is there a good blend of work in an area, or does it rely on just one industry? All these play a part.
Recognizing the factors that play into your home's value is important. Click here
to receive an evaluation of your property's value. Call us at 850-212-3083 or e-mail us
if you have any questions at all. We'd love to hear from you.