Market

There are Two States to Real Estate Market

As any other business, Real Estate is Driven by Supply and Demand

Hot Market

When the Inventory ( Supply) is low and the Buyers (Demand ) is High, the Market is said to be Hot.

In a Hot Market, since there aren’t too many houses available, usually there are multiple buyers trying to buy a single house.

Because there are many Buyers trying to buy a single house is said to be Sellers Market, meaning the sellers have the upper hand in the sell.

In a Hot Market, sellers can sell their houses in shorter time, they have less problems selling the property without making any repairs and usually the house sells at higher price than asking price.

Cold Market

When there are many Houses for Sale (Supply) and there are not too many Buyers (Demand), The Market is said to be Cold.

In a Cold Market, since there are too many houses available, Sellers are desperate to sell their houses and Buyers have more choices to look at .

When there are more houses for sale than there are Buyers is said to be Buyers Market.

In Cold Market, houses take longer to sell, sometimes sellers have to lower the price, make necessary repairs for the property and Buyers are more demanding .

Buying Real Estate

How Much to Offer?

As a Buyer, You are Responsible for Determining the Price you Want to Offer

Your Broker Will assist you With Tools, Experience and Suggestions to Help you Decide What the Listing (Asking) Price Will Be.

Selling Real Estate

How Much to List your House For ?

Sellers Decide What to Ask For The Sale of Their Home

The GOAL is to find a Buyer willing to pay for your house the Price you are asking for

ECONOMY

There are Other Important Factors That Affect Real Estate Market

>FEDERAL RESERVE BANK

High Interest Rate

INDUSTRY,CONSUMER INDEX,SOCIAL AND ECONOMIC FACTORS

eescroe

Interest

ins

Population

globe-free-img.png

agri 2

ind 3

ind 1

jobs 1

FED

ins

bank 1

JOBS AVAILABLE

DIFFERENT TYPES OF REAL ESTATE RESIDENTIAL PROPERTIES

SINGLE FAMILY RESIDENTIALS

POPULATION

DETACHED SINGLE FAMILY HOMES/ATTACHED SINGLE FAMILY RESIDENTIALS

ONE OF THE BEST FAMILY HOMES ARE THE DETACHED HOMES.

DETACHED PROPERTIES HAVE USUALLY MORE SPACE BETWEEN ONE ANOTHER, HAVE MORE BACKYARDS AND EVEN MORE PARKING SPACE.

ATTACHED HOMES HAVE MORE RESTRICTIONS AND LESS SPACE IN MANY CIRCUMSTANCES.

THEREFORE THE MORE DESIRABLE HOME FOR MOST PEOPLE ARE DETACHED SINGLE FAMILY HOME

CONDOMINIUMS

Another Name is Common Interest Development

Condominiums are also known as Condos or a Condo, a Housing Complex with many units, could be a small amount of units as it could also be a large amount of Units.

Each Unit is Owned by a Separate Owner but they share many things in common they Jointly share Swimming Pools, Gyms, Elevators, Hallways, Walls and Many more Features of the Said Community.

Condominium owners pay for a Home Owners Association this is an organization that normally takes care of the exterior maintenance of the property, they manage the property and all the CCRS (Covenants, Conditions and Restrictions) .

Appartments

Apartments and Condos are basically the same, except that in most cases, Apartments are Residential Rentals. There are some Cities where Apartments are also sold and people can buy instead of “Renting” and Apartment.

They still Share all the common areas and there is also a Home Owners Association involved. One advantage of Renting an Apartment is that Renters don’t pay for property Taxes as Owners of Condos Do.