Property values tend to soar when there is a lot of construction and expansion in the city.
Property values in my neighborhood are soaring, thanks to the addition of a city park and a new shopping mall.
My home was at least 8 miles away from the closest shopping center, but now there are shopping centers, apartments, restaurants, and outdoor activities within 2 miles of our home. A couple of apartment buildings have been erected in the same area. It had been a while since I looked at property values for my home. I looked at property values a couple of years ago, when I was thinking about refinancing. My property was worth 20% more than the price that I paid for the house several years ago. When I looked at the property value for my Jacksonville home last week, I was surprised to find that it was now worth 40% more than the price that I paid. All of the houses in my neighborhood have gone up since the new additions. As soon as the shopping center was erected, property values in this Jacksonville area rose significantly. For the first time in my life, I’m thinking about the possibility of selling this house to buy something else. If I could get a great cash offer, I would like to move towards the beach. There are a lot of nice condos in Jacksonville Beach and I would love to be closer to the water. If I could find the right realtor in Jacksonville, I might be able to get a good cash offer for my home and finally make the move.
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