The State Of The Housing Market, Mortgage Interest Rates And Local/National Economy Affect House Prices

How quickly and easily a property sells and for how much is often dependant on: the state of the housing market, mortgage interest rates, and the local/national economy. Any one of these factors can affect buyer demand and selling prices.

However, to a large extent, both the buyer and seller can adapt or react to market conditions.

Selling your home in a buoyant real estate market should be relatively easy, regardless of its location or condition, as long as you hire a competent agent and price the property correctly.

Buying a home in a buoyant real estate market usually means you need to pay more for the property, be quicker at making decisions, and you'll probably need to borrow more money or perhaps lower your expectations as to what you'll get for your money.

Selling your home in a tight real estate market is a whole different ball game. Buyers become more selective. Effective marketing and correct pricing becomes even more critical.

For buyers in a tight real estate market it can be an opportunity to secure a bargain.

Most people however, buy and sell in the same market, so if they get a high price when selling they often pay a high price when buying.

The best scenario is to buy in a tight real estate market and sell in a buoyant real estate market.

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