What superpower would I want in my field of work? Definitely a crystal ball to be able to see the future. In real estate, we try to get as adept as we can about the environment by studying past date and current economics to help make informed and smart real estate decisions. In my quest for data and information to help me serve my clients, I stumbled across some cool tools to for home value appreciation that I wanted to share with others.
Yep, I am a self-confessed gadget girl and data hound. I believe that part of the value I bring to those I serve is to have a strong grasp on the local and national real estate market. For that reason, I am always studying published information from experts and using it to find parallels and common denominators that can be relevant to the areas I serve in and around Naples, Florida There are three tools that all deal with home values and appreciation that I thought could be valuable to share with others.
TOOL 1: National Home Value Appreciation Data
The first tool is an interactive tool that presents historical appreciation data for all the US states and major areas within each state. Unfortunately, the Naples area is not included in this tool, which was disappointing. However, I recognize that my reader base may be considering more than just my area and many of our owners also own homes in other states. And, because I found this tool so helpful and fascinating, I wanted to share it. CLICK HERE to access an interactive graphical depiction of the home value appreciation over time. You can slide the top time continuum bar left and right to control the time frame you are interested in viewing. You can also dive into the major areas to see more local data. Although this graph does not provide data that is specific to the Naples area, one thing we know for sure from this is that Florida continues to be a great state for home value growth. As you can imagine, most of the time, Naples ends up being on the higher end of the value growth, so it is still good news even to those of us in SW Florida.
TOOL 2: Projecting your home's value in the future
This tool provides an easy input screen to add your home's current value and the appreciation rate for your immediate area to quickly calculate what your future value could look like if your home continued to appreciate at the same rate. CLICK HERE to run some scenarios and see what kind of appreciation you may enjoy in the future. After inputting the two require data points, you can use the continuum on the bottom of the page to move the projection out further into the future by sliding the car to the right.
TOOL 3: Projecting your home's value in the future
This tool is for similar purposes as tool 2. However, it has more variables that you can adjust for maximum refinement. You can control and adjust the appreciation rate by year to make it a more sophisticated projection. CLICK HERE to begin exploring your homes potential as a valuable asset in your portfolio of investments.
Although these are wonderful tools to help you keep on top of your home investment, remember that there are a lot of dynamic variables that affect any individual home value. It is always a good idea to engage a qualified real estate professional or appraiser to make decisions about ownership that may be depended on home values. I am more than happy to help you get connected with such resources in your area. Just reach out via 239.287.2576 or Renee@YourNaplesExpert.com