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Factors Affecting Market Conditions.
1. Number of homes available
a. More homes on the market than available buyers (called
a Buyer's Market) - prices are weak and values are declining
b. Enough homes to equal current demand (called a Balanced
Market) - prices steady
c. Too few homes to meet current demands (called a
Seller's Market) - prices strong and improving
2. The Influence of Current Mortgage Interest Rates
A. Current Rate
a. Relatively high for last 60 month period
b. Near average for last 60 month period
c. Relatively low for last 60 month period
B. Near Term Interest Rate Trends
a. rates seem to be increasing
b. rates seem to be relatively stable
c. rates seem to be declining
3. Condition of General Economy Nationally Locally
a. Good and improving
b. Steady
c. Weak, with no signs of improving
4. Seasonal Factors (Is this the best time to sell in
this marketplace?)
a. Above average
b. Good
c. Below average
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