GA 4.0 hours Valuation, Marketing, and Listings - Course Syllabus
4.0 Elective Hours
Did you know, market conditions play an important role in pricing and marketability. There are some specific considerations when analyzing the current market conditions.
The general state of the economy which includes inflation, unemployment, and the stock market can affect the availability of money, the types of loans being offered and interest rates. Consumer confidence in the economy, elections, employment, the stock and bond markets etc. play a huge role in market conditions in real estate. When money is easier to obtain, more buyers have the opportunity to purchase which can lead to an increase in sales and higher prices.
Market competition can affect the amount of homes, both resale and new construction that are currently on the market which leads to supply and demand. If there is a plentiful supply and low demand, prices tend to fall. Conversely, if there is a low supply and high demand, prices tend to rise.
Even local conditions such as employment, factories opening and closing or tourism can affect financing terms, pricing, and marketability.
This course will assist the real estate professional in understanding how market conditions affect not only listing prices, but the amount of time a listing stays on the market.