Real estate values are forever in flux.
House values appreciate in the long term generally.
But, of course, in real estate there is always a certain amount of risk.
When your house appreciates you have more equity to borrow against, and you'll produce a larger profit when you sell.
Property values in Jacksonville move up and down for various reasons, so how do you know what you're purchasing this year won't depreciate the day after you close?
Choosing an agent in Jacksonville who knows the factors that drive local prices is the most important part.
The economy is assumed to be the number one factor affecting real estate appreciation.
Clearly,
there are a lot of issues on a national level that alter your house's value: unemployment, interest rates, business growth, and more.
However, your property's value and the features that play the biggest role in its appreciation depend on the local Jacksonville economy and housing market.
Access to services - Many of us decide to live in areas with the most useful features for homes to thrive, such as a close proximity to schools and work.
So these areas often appreciate, or retain their value, best.
Recent home sales - You should receive figures on the recent real estate sales in the neighborhoods that you'd like to live in from your real estate agent. You'll want to know figures like time on market and listing price versus selling price.
History of appreciation - In the last 5-10 years, have home prices gone up or down? Does location or affordability affect how desirable the area is thought of as?
Local economy - Is there a fair blend of job types in an area, or does it rely on just one industry? Have businesses moved into or away from an area? Are local companies hiring?
All these play a role.