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Real Estate Market Risks

Knowledge is power

In a different tip we suggest that you know the market and then ignore it. We stand by that suggestion, but want to clarify that it begins with knowing the market. You need to know a little about the national and regional trends and a LOT about your local market. Whether you are selling or renting, you want to anticipate how long the property may sit vacant. This affects your overhead and possibly your insurance coverage. If you know the pricing trend for your type of property in your market, you’ll know better how to respond to offers.

For 7 tips on how to manage market risk, click here.