What factors impact your Real Estate market?
February 19th, 2023, Sunday by Broker, Amber Nestor
I will be re-activating my Real Estate Broker License in the State of Tennessee in the next few months, and have decided it's time for me to start posting blog's about real estate related topics here on my website.
So, let's discuss market conditions that impact your real estate market. It's important for you to work with an agent, like myself, you is capable of explaining what types of factors impact your market, and who is knowledgeable about the anticipated trends expected to occur in those factors impacting the market.
If you have questions about any of these factors, give me a ring, and we can talk about it after my license re-activates. (Check back on my website to see when I post the activation announcement.)
In general the major categories of factors which impact a recommended price for your property, land, and structures, include, but are not limited to the following:
the overall state of the economy
the consumer perception of that state, and anticipated state
supply and demand
the availability of cash and types of loan products
interest rates
inflations rates
the competition
past events
There are MANY other factors that impact a Broker's opinion of price, and a Comparative Market Analysis. But, these are some over-arching factors to always keep in mind.
The list above is what drives the macro-market, so to speak. The nitty gritty and fine details stuff gets more into the micro-market factors, which I do not have time to list and discuss here this evening.
So, if you would like to learn about when I am re-launching shoot me a text at (865)617-4783.
Thank you,
Amber Nestor - TN Pro Broker
