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Ottawa Irish Festival
Ottawa Irish Festival (previously... |
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[Details] |
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Stonebridge Easter Egg Hunt!!
Come join the Easter Bunny on a... |
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[Details] |
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Maple Sugar Festival
Throughout the 9 day family event, everyone enjoys the great maple products of North America’s one and only urban sugar...
[Read More]
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Understanding market conditions |
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The real estate market is always changing, and it helps to understand how market conditions can affect your position as a seller. Your agent can provide you with info on current conditions and explain their impact on you.
Buyers' market
The supply of homes on the market exceeds demand.
Characteristics
- High inventory of homes
- Few buyers compared to availability
- Homes on the market longer
- Prices tend to drop
Implications
- More time to look for a home
- More negotiating leverage for buyers
Sellers' market
The number of buyers wanting homes exceeds the supply of homes on the market.
Characteristics
- Smaller inventory of homes
- Many buyers
- Homes sell quickly
- Prices usually increase
Implications
- Buyers may have to pay more
- Buyers must make decisions quickly
- Conditional offers may be rejected
Balanced market
The number of homes on the market is equal to the number of buyers.
Characteristics
- Sellers accept reasonable offers
- Homes sell within an acceptable time period
- Prices generally stable
Implications
- More relaxed atmosphere
- Reasonable number of homes to choose from
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